LONDON, July 2, 2024 /PRNewswire/ -- Aquiline Capital
Partners LP ("Aquiline"), a private investment specialist in
financial services and related technologies, has agreed to a
majority investment in Isio Group Limited ("Isio"), one of the
fastest growing pensions, reward and benefit and investment
advisory businesses in the UK.
Since Isio was launched in 2020 it has undergone four successive
years of double-digit organic growth and continues to gain market
share. It has completed two acquisitions which expanded the
company's scale, geographical footprint, and range of services.
Isio is now one of the UK's largest retirement advisory businesses,
with 1,200 employees and 10 offices across the UK.
Aquiline is well-established as an investor in the global
retirement and wealth management services sectors. In the UK,
Aquiline has invested in Smart Pension, the global pension software
and solution provider, Wealth at Work, the provider of workplace
financial education, guidance and advice and Landytech, the private
markets investment management technology provider, among
others. In addition, Aquiline has invested in Ascensus, the
US's largest provider of independent retirement and college savings
services, Mirador, a tech-enabled middle office solution for
private markets investors and SageView, a registered investment
advisor serving retirement plan sponsors and individuals.
Aquiline's investment will support Isio's growth strategy of
innovation by expanding its core services and growing adjacent
practices, including rewards & benefits, investment advice and
private capital. This will be achieved through a combination of
targeted M&A to build additional service lines and advisory
capabilities, and by attracting new talent to the business.
Aquiline is acquiring its majority shareholding from Exponent
Private Equity LLP, who have backed Isio since its carve out.
Isio's management team will continue to retain a significant
minority investment.
Igno van Waesberghe, Managing Partner at Aquiline, said: "We are
delighted to be investing in Isio. It operates in sectors
where we have extensive experience and deep networks.
"Isio is a business we have admired and got to know well, not
simply as an investment, but first as our advisor and then our
partner. We have been particularly impressed by the depth of
their expertise in creating better outcomes for clients. It
has delivered impressive organic growth and successful expansion
through strategic M&A. We look forward to working with Isio's
management team to continue to develop their offering, diversify
the business, and support them in further accelerating growth."
Andrew Coles, Isio's CEO, said:
"This new investment from Aquiline will enable us to continue the
journey of bringing high quality service and better outcomes to our
clients. Key to this is having a culture that appeals to the best
talent in the sector with long-term, high quality career
opportunities. I am personally excited about the future and look
forward to continuing to lead Isio in its next phase of evolution
and growth."
The transaction is subject to standard regulatory
approvals.
Aquiline were advised by RBC Capital Markets and Herbert Smith
Freehills LLP. Exponent and Isio were advised by Evercore
(financial adviser) and Macfarlanes (legal adviser). Isio's
management were also advised by Liberty Corporate Finance and
Proskauer.
Notes to Editors
About Aquiline Capital Partners LP
Aquiline Capital Partners LP is a private investment firm based
in New York, London, Philadelphia, and Greenwich, Connecticut, that is dedicated to
financial services and related technologies. The Firm has
approximately $10.4 billion in assets
under management as of March 31,
2024.
For more information about Aquiline, its investment
professionals, and its portfolio companies, visit
www.aquiline.com
About Isio
Isio is a leading independent UK provider of actuarial &
consulting, pensions administration, investment advisory, employee
reward & benefits and wealth advisory services. With a national
team of 1,200 people across ten UK offices, Isio is committed to
promoting financial wellbeing for all and works with companies,
trustees and individuals to help them make informed decisions to
protect their financial future.
For more information about Isio, please visit
www.isio.com
About Exponent
Established in 2004 with a presence in London, Dublin and Amsterdam, Exponent is a leading private
equity firm. The Firm invests in mid-market companies headquartered
across Europe (UK, Ireland, Benelux and Nordics). Exponent has a
distinctive approach, central to which is identifying the potential
in corporate, family or founder owned businesses.
Exponent has raised more than €3 billion to date. A selection of
Exponent's current and past investments include market leading
businesses such as Trainline, Moonpig, Ambassador Theatre Group,
H&MV, Xeinadin and Quorn Foods.
Exponent has been investing in corporate carve out deals since
its inception, with the acquisition of TES from News Corporation in
2005. In recent years the Firm has acquired Enva from DCC plc in
2017, SHL from Gartner, Inc. in 2018, Gü from Noble Foods in 2021
and most recently, in 2023, Natara from International Flavors and
Fragrances, Inc.
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