Carlyle to acquire intelliflo from Invesco for up to $200 million.

Carlyle and Invesco have agreed for Carlyle to acquire intelliflo, a provider of cloud-based practice management software for independent financial advisors in the UK. The transaction includes intelliflo's US-based subsidiaries, RedBlack and intelliflo Portfolio. The purchase price is up to $200 million, comprising $135 million at closing and up to $65 million in potential future earnouts. The acquisition is expected to close in Q4 2025 subject to certain conditions.

Global investment firm Carlyle (NASDAQ: CG) has announced its acquisition of intelliflo, a leading provider of cloud-based practice management software for independent financial advisors (IFAs) in the UK. The transaction, valued at up to $200 million, includes intelliflo's US-based subsidiaries, RedBlack and intelliflo Portfolio. The acquisition is expected to close in Q4 2025, subject to certain conditions.

The purchase price of up to $200 million is comprised of $135 million at closing and up to an additional $65 million in potential future earnouts. Carlyle's investment will be provided by Carlyle Europe Technology Partners (CETP) V, a €3 billion fund that invests in technology companies across Europe.

Founded in 2004 and headquartered in London, intelliflo offers an end-to-end software platform used by over 30,000 professionals at approximately 2,600 advisory firms. Its platform delivers CRM, financial planning, client onboarding, compliance workflows, and reporting functionality. The cloud-native, multi-tenanted SaaS architecture integrates with over 120 third-party applications.

The acquisition aims to strengthen intelliflo's market-leading position in the UK and accelerate its growth in Australia. As part of the transaction, intelliflo's US-based subsidiaries will be established as a standalone business called RedBlack, run by a separate management team. This separation will allow both businesses to better serve and focus on their existing customers and markets.

Carlyle will support the carve-out of both businesses from Invesco and partner with both leadership teams to execute their respective growth initiatives. Equity for the investment will be provided by Carlyle Europe Technology Partners (CETP) V, a €3 billion fund which invests in technology companies across Europe.

Fernando Chueca, Managing Director in the CETP investment advisory team, said: "intelliflo is a mission-critical software provider to the UK's wealth management ecosystem, with a deeply embedded and loyal customer base. We are excited to partner with Nick, Bryan, and the team to unlock the company's full potential and deliver a new stage of growth."

Nick Eatock, CEO and 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."

Bryan Perryman, the CEO of the newly formed RedBlack, said: "Our team is highly motivated by the opportunity to bring our full focus onto the US market as an agile, standalone company. RedBlack has a rich history of delivering market-leading software solutions for our US RIA customer base. We are excited to be backed in this endeavor by a sponsor with the reputation and credentials of Carlyle, which will continue to best position RedBlack to support advisors' needs."

Doug Sharp, Senior Managing Director, Head of Americas and EMEA, at Invesco, said: "As intelliflo and the newly incorporated RedBlack embark on their next phases of growth with Carlyle, we are confident that both companies are well-positioned for continued success and innovation in the wealth technology space. We look forward to our ongoing collaboration with Carlyle."

This acquisition underscores Carlyle's strategic focus on fintech consolidation and digital transformation within the wealth management sector. It also highlights the growing importance of ESG (Environmental, Social, and Governance) integration in fintech, as Carlyle aligns its investments with sustainability goals.

References:

[1] https://www.ainvest.com/news/carlyle-strategic-acquisition-intelliflo-implications-future-wealth-management-software-2508/
[2] https://www.prnewswire.com/news-releases/carlyle-to-acquire-intelliflo-from-invesco-302538062.html