Investment Company Carlel said on Tuesday that it had agreed to obtain Intelliflo, which is equipped in the United Kingdom for the cloud -based programs for independent financial advisors, from Invesco in a deal of $ 200 million.
The purchase price consists of $ 135 million in closing, which is expected in the fourth quarter of this year, taking into account certain closure conditions, and up to an additional $ 65 million in possible future profit.
The American Intelliflo deal includes Redblack and Intelliflo Portfolio.
The company said that the subsidiaries that are based in Intelliflo are its headquarters in the United States will be established as a self -free company called Redblack, which is run by a separate management team..
Intelliflo, which is based in London in 2004, was established and serves more than 30,000 professionals in 2,600 consulting companies, supports management of about 450 billion pounds in customer assets.
The platform provides customer tools on the plane, financial planning, compliance and reporting, and integrates with more than 120 applications for external parties. Carlal said its investment would help Intelliflo expand in the United Kingdom and Australia.
Stock financing will be provided by Carlyle Europe Technology Partners V, a 3 billion euros fund that focuses on technological investments.
“Intelliflo is a critical software provider in the ecosystem for wealth management in the United Kingdom, with a very integrated and loyal customer base. We are excited to partnership with Nick, Brian, and the team to completely communicate the company’s capabilities and deliver a new stage of growth,” said Fernando Choika, Managing Director of Carlail.
Nick Itok, CEO and founder of Intelliflo, said that Carliel’s support would enable the company to continue to build innovative solutions for consultants in its basic markets.
Evercore Investco advised, with HSF Kramer as a legal advisor. Carlail was advised by Gibson Dan, with the due care provided by Altman Solon, PWC, Olive Wyman and Ringstone.