Invesco Ltd. (NYSE:IVZ) is eyeing a £275 million price tag for Intelliflo Limited, Citywire has learned. Sources told Citywire that an information memorandum (IM) was recently sent to prospective buyers of the adviser back-office system. It is understood that Aberdeen is among those interested in acquiring the advice tech firm, used by around half the advisers in the UK.
Its original backer private equity firm HG Capital also received the IM. While talks are said to be in the early stages, sources told Citywire that Invesco is seeking a deal worth £250 million - £275 million, up from the £200 million it paid for the business in 2018 when it bought it from HG Capital. NMA first revealed in February that there were early discussions around the sale of Intelliflo.
Investment bank Evercore is advising on the sale. A spokesperson for Intelliflo told NMA: ?This is market rumour, we don?t comment on this type of speculation, which Intelliflo is often subject to as a market leader.? Invesco, Aberdeen and HG Capital all declined to comment.
