Secondary Buyout • Software

WL Ross & Co. Acquires IntelliFlo

On June 6, 2018, private equity firm WL Ross & Co. acquired software company IntelliFlo from HgCapital

Acquisition Context
  • This is WL Ross & Co.’s 1st transaction in the Software sector.
  • This is WL Ross & Co.’s 1st transaction in the United Kingdom.
Investment Fate
  • IntelliFlo was divested to a consortium of buyers in 2025.

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M&A Deal Summary

Date June 6, 2018
Target IntelliFlo
Sector Software
Buyer(s) WL Ross & Co.
Sellers(s) HgCapital
Deal Type Secondary Buyout

Target Company

IntelliFlo

Wimbledon, United Kingdom
IntelliFlo provides practice management solutions to financial advice firms, supporting over 30,000 users across the UK and internationally. Its core SaaS platform, intelliflo Office, is a central system for CRM, planning, compliance, and client communication. IntelliFlo was founded in 2004 and is based in Kingston, London.
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Buyer Overview 1

Buyer

WL Ross & Co.

New York, New York, United States

Category Private Equity Firm
Founded 2000
PE ASSETS 11.9B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

WL Ross is a mega-sized alternative group focused on turnaround investments. WL Ross looks to invest in and restructure financially distressed companies and create new enterprises. The Firm will consider opportunities throughout the world, including North America, Asia, South America, Western Europe, and Central Asia. WL Ross typically targets businesses operating in traditional industries, including the steel, textile, coal, automotive, and financial services sectors. In 2006 asset manager Amvescap (now Invesco) purchased WL Ross from its founder. WL Ross was originally formed in 2000 and is based in New York City.


Deal Context for Buyer #
Overall 4 of 4
Sector: Software 1 of 1
Type: Secondary Buyout 1 of 1
Country: United Kingdom 1 of 1
Year: 2018 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-17 Cascade Bancorp

Bend, Oregon, United States

Cascade Bancorp is a community bank in the Pacific Northwest operating under the name of Bank of the Cascades. Cascade offers full-service community banking through over 30 branches in Central Oregon, Southern Oregon, Portland/Salem and Boise/Treasure Valley.

Sell $589M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-20 Diamond S Shipping

Greenwich, Connecticut, United States

Diamond S Shipping owns and operates 64 vessels on the water, including 13 Suezmaxes, 1 Aframax, and 50 MR tankers. DSSI is one of the largest energy shipping companies providing seaborne transportation of crude oil, refined petroleum, and other petroleum products. Diamond S Shipping is headquartered in Greenwich, Connecticut.

Sell -

Seller Profile 1

SELLER

HgCapital

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 70.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HgCapital is a European private equity firm focused on a wide range of transactions including public-to-private leveraged buy-outs, management buy-ins, divestitures, and turnarounds. Broad sectors of interest include consumer and leisure, healthcare, industrials, services, technology, media, and renewable energy. The Firm will consider both majority and minority investment positions. HgCapital is the successor to Mercury Capital Partners, a former unit of Merill Lynch which was spun out by management in 2000. HgCapital has offices in London and Munich.


Deal Context for Seller #
Overall 64 of 97
Sector: Software 13 of 24
Type: Secondary Buyout 24 of 36
Country: United Kingdom 35 of 47
Year: 2018 5 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-14 JLA

Ripponden, United Kingdom

JLA provides commercial laundry, catering and heating solutions to more than 25,000 small and medium-sized enterprise (‘SME’) customers. JLA offers a unique ‘Total Care’ proposition, which combines equipment supply with guaranteed service response times for a contracted monthly fee, providing peace of mind and value for money to a range of customers including care homes, hotels, education providers and housing associations. JLA was established in 1973 and is based in Ripponden, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-14 itm8

Herning, Denmark

itm8 is a provider of IT outsourcing focused at smaller businesses. itm8 provides services which allow SMEs to move their IT infrastructure and operations into the cloud, as well as providing end user support and consulting as part of a full-service IT offering. itm8 was founded in 2003 and is based in Herning, Denmark.

Buy -