Intelliflo has been acquired by global investment firm Carlyle for $200 million.
The software firm was first acquired by asset manager Invesco in June 2018 but it has now been announced it will sell the business to Carlyle for $200 million, in a deal expected to complete in the fourth quarter of 2025.
Carlyle specialises in private equity, private markets, and global credit with US$465 billion ($716 billion) in assets under management.
This $200 million payment consists of $135 million upon closing and up to additional $65 million in potential future earn-outs.
Founded in 2004, intelliflo provides financial planning and practice management software for 30,000 advisers globally and manages $1 trillion in assets across its platforms.
The deal also consists of intelliflo’s US-based subsidiaries which will be restructured as a standalone business called RedBlack, run by a separate management team with a focus on SaaS-based portfolio rebalancing.
“This separation will allow both businesses to better serve and focus on their existing customers and markets. Intelliflo will focus purely on delivering market-leading software and innovation for the UK and Australian markets, and RedBlack will focus solely on delivering for RIAs and other financial advisers in the US.”
Nick Eatock, chief executive and co-founder of intelliflo, said: “This is an exciting moment for intelliflo. Carlyle’s investment reflects its trust in our business and its deep experience in scaling software companies make it an ideal partner for our next phase of growth. With Carlyle’s support, we will continue to focus on delivering great value to our clients, with a renewed focus on building innovative solutions for the evolving needs of our core UK and Australian customer bases.”
In May, the firm launched a fee consent screen to provide financial advisers with enhanced fee tracking abilities, and three new dashboards to help advisers monitor their business performance.
The new features will help advisers to obtain enhanced oversight and a streamlined way of managing ongoing fee arrangement (OFA) renewals and consents, and allow advisers to view income-related metrics.
Intelliflo said the enhancement recognises the need for streamlined paperwork following Delivering Better Financial Outcomes (DBFO) legislation which seeks to reduce red tape and will also remove the need for advisers to provide OFA statements.
Meanwhile, the ability to view income and business-related metrics will help advice firms when considering M&A activity to determine who would be a suitable partner.
