Transact boss Taylor open to exit as platform calls in Goldman to broker sale


Transact has appointed Goldman Sachs to broker a full sale of the business, with senior staff open to an exit if a takeover is agreed, Professional Adviser's sister title Investment Week understands.

The investment bank has sent a document to interested parties outlining the mechanics of a proposed deal which would see the entire business sold. The document says founders Ian Taylor (pictured) and Michael Howard - both key shareholders - would agree to exit the platform if requested as part of any takeover. In order to be approved, any deal requires 65% of shareholder votes - a likely occurrence if a buyer is found given the make-up of the shareholder base. According to the document, the top five shareholders own 36% of the company, including 53% of the voting rights. The maj...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
 Be the first to hear about our events and awards programmes.



Already a Professional Adviser member?


More on Wrap/platforms

Will Consumer Duty make platforms 'governance vehicles'?

Will Consumer Duty make platforms 'governance vehicles'?

So, what does the modern platform look like?

Alex Cowan-Sanluis
clock 01 December 2022 • 3 min read
Tough third quarter for platform industry, data shows

Tough third quarter for platform industry, data shows

Economic instability is hurting investor confidence, experts say

Julia Bahr
clock 10 November 2022 • 3 min read
Alex Cowan-Sanluis: The five-stage hierarchy of platform services

Exploring the five-stage hierarchy of platform services

Platform market change sees more consistent tech-driven customer propositions

Alex Cowan-Sanluis
clock 12 October 2022 • 4 min read