Existing management has completed a buy-out of Independent Transition Management Limited (ITM), the leading provider of data management and technology services to the pensions and financial services markets. 

Founded in 2003, ITM specialises in technology-led data audit, management administration and migration services, working with pension funds, providers, trusts and administrators as well as other generalist financial institutions.  ITM utilises proprietary software and specialist expertise built over 15 years to provide critical and complex data services for its blue-chip clients in the private and public sectors, including Aviva, Legal & General, Cabinet Office and BT.  Headquartered in London, ITM currently employs 120 staff across the UK, with additional offices in Guildford and Edinburgh.  

The transaction fulfils the founders’ wishes to step away as part of an orderly transition process yet retain continuity in management and the values that ITM has been built on.  The existing management team led by Darran Blount will partner with Inflexion to drive the business in its next phase of growth. The buy-out team is completed by Consulting Director Maurice Titley, Sales and Marketing Director Matt Dodds, Chief Financial Officer Gurmit Dhesi and Executive Chairman Duncan Howorth.

Howorth commented, “This new ownership structure will allow ITM to retain our independent and unique position in the market, whilst benefiting from the investment of our new partner, Inflexion Private Equity.  Inflexion has demonstrated a clear understanding of the business and their digital expertise and experience in the sector mean they are well positioned to support the continued development and growth of ITM.”

Darran Blount, ITM’s CEO, added, “We look forward to developing ITM services to exploit the growth opportunities underpinned by regulatory and industry drivers in our core markets, and broaden our range of services and support our expansion into adjacent markets. Inflexion’s relevant experience in these areas will be invaluable as we work together to drive these developments.”

Simon Turner, Managing Partner at Inflexion, commented, “ITM is a clear leader in its space, with a strong reputation built on its high quality technical staff, bespoke proprietary software and long-term relationships with blue-chip customers.  The company has established a solid platform to exploit the positive dynamics in its markets, as firms turn to outsourced specialists to manage their increasing volume of data.”

The Inflexion deal team comprised Andrew Mainwaring Robin Senivassen, Abhishek Majumdar and James Stevens. 

This investment was made by affiliated funds advised by Inflexion Private Equity Partners LLP.

Ends

Further information / 

Matt Dodds, Director, ITM

t / 07737 857 540 / 0207 648 9990
e / mattdodds@itm.co.uk

Sarah Gestetner, Inflexion

t / 0207 487 9820

About ITM / 

ITM is a leading provider of specialist data management, systems and administrator support services within UK financial services.

ITM consultants are all experienced pension administration system and data specialists, able to provide advice and guidance to sponsoring employers, trustees and scheme managers on how to identify, manage and correct all system, process and benefit data issues. ITM consultants have extensive knowledge of:

• All leading pension and financial services administration software packages.
• Bespoke pension administration systems build and implementation management.
• Pension administration operational processes.
• Data risk auditing, cleansing and data migration.
• Large scale legacy data and benefit calculation projects.
• Strategic pension administration operational review and outsourcing advice.

ITM provides these services to a range of clients that include:

• Third party and in house administrators.
• Trustees and independent trustees of occupational pension plans.
• Benefit consultants and actuaries.
• HR, payroll and flexible benefit providers.
• Insurance companies.
• Financial advisers and wealth managers.

ITM provides a range of system solutions that enable administration to be undertaken efficiently and accurately:

Pensions administration solution.

Web based data analysis and reporting solution.

Auto enrolment solution.

ITM offers all financial services professionals a range of solutions that enable administration to be undertaken efficiently and accurately. 

About Inflexion / 

Inflexion is a UK mid-market private equity firm, investing in high growth, entrepreneurial businesses with ambitious management teams and working in partnership with them to accelerate growth. Inflexion’s flexible approach allows it to back both majority and minority investments, typically investing £10m to £150m of equity in each deal. 

With bespoke teams and dedicated capital, Inflexion’s funds invest across all sectors from offices in London and Manchester. Inflexion helps businesses achieve the next stage of their development through international expansion, operational improvements, digital expertise, access to Inflexion’s networks and funding for acquisitions. It benefits from experts in Bangalore, São Paulo and Shanghai dedicated to portfolio development, enabling investee companies to benefit from privileged access to these fast-growth markets. 

In 2018, Inflexion retained a leading position in Preqin’s annual global league for consistently top performing buyout funds. It is the only UK fund to be ranked in the top 10. Inflexion has also won a number of industry accolades for its success in growing the businesses it backs. 

Funds advised by Inflexion Private Equity Partners LLP have assets under management of c.£2.5bn, read more at inflexion.com.