Investment firm Carlyle has reached an agreement to purchase wealthtech firm intelliflo from Invesco for purchase price of up to $200m. 

The deal, which includes an initial sum of $135m, is slated for completion in the fourth quarter of 2025, provided certain conditions are met.  

Additional earn-out provisions could increase the total value of the acquisition by up to $65m. 

intelliflo, a UK-based provider of cloud-based practice management software for independent financial advisors, has been operating since 2004. 

The company’s software is currently used by over 30,000 professionals across roughly 2,600 advisory firms, and it assists in the management of around £450bn in client assets.  

The platform is known for its suite of tools, including customer relationship management, financial planning, client onboarding, compliance, and reporting features.  

It also boasts integration capabilities with more than 120 third-party applications. 

The acquisition encompasses intelliflo’s operations in the US, which include RedBlack, a provider of SaaS-based portfolio rebalancing tools, and intelliflo Portfolio, a portfolio management software solution for US Registered Investment Advisors. 

Following the acquisition, intelliflo’s US subsidiaries will be restructured into a separate entity, named RedBlack, with its own management team. 

intelliflo will continue to concentrate on the UK and Australian markets, while RedBlack will be dedicated to serving financial advisors in the US. 

The investment for this acquisition will be provided by Carlyle through its Carlyle Europe Technology Partners (CETP) V fund, which is a €3bn fund focused on technology investments 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.” 

intelliflo CEO and founder Nick Eatock stated: “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.”