Transact bidders withdraw; CEO Taylor commits future

clock

The private equity firms eyeing wrap provider Transact have withdrawn their approaches, Professional Adviser's sister title Investment Week understands.

US-based Corsair Capital and Aquiline Capital Partners as well as London-based TDR Capital have all been reported to be considering purchasing the platform. Transact appointed Goldman Sachs as a broker with a view to a sale earlier this year. However, negotiations broke down last month, according to sources. Professional Adviser's sister title Investment Week understands reasons for the cooling off include bidders’ concerns about the prospects for growth, as well as Transact’s desire for a higher price. Transact chief executive Ian Taylor would not comment on the corporate situation, ...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Wrap/platforms

Platform One adds Triple Point Venture VCT investment option

Platform One adds Triple Point Venture VCT investment option

Latest VCT option comes after Octopus Apollo addition

Jenna Brown
clock 19 June 2024 • 1 min read
Quilter reports platform net inflows of £1bn in first quarter

Quilter reports platform net inflows of £1bn in first quarter

Ongoing adviser charging review to start shortly after FCA talks

Jenna Brown
clock 24 April 2024 • 2 min read
Will IFA-owned platforms take over the financial advice sector?

Will IFA-owned platforms take over the financial advice sector?

PA talks to industry experts on the future of adviser-owned platforms

Sahar Nazir
clock 27 March 2024 • 9 min read