The Quinn Partnership is delighted to announce its involvement in Management Due Diligence for Inflexion’s management buyout of Independent Transition Management Limited (“ITM”), the leading provider of specialist data services to the pensions and financial services markets and at the top of their game in their sector.

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. The company utilises proprietary software and specialist expertise it has 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.

Duncan Howorth, ITM’s Executive Chairman, 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, 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, Abhishek Majumdar, Robin Senivassen and James Stevens. In addition to Duncan Howorth and Darran Blount, the ITM team includes Consulting Director Maurice Titley, Sales and Marketing Director Matt Dodds and Chief Financial Officer Gurmit Dhesi.

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

Mike Stiles, Director at The Quinn Partnership, added, “The speed and scale of modernisation in the economy is underpinned by agile software and technological companies that are driving the pursuit of better ways of working and ITM are a prime sponsor of this. We have been impressed with their creativity and their ability to find solutions to new problems, whilst also showing a grounded sensibility and approachability when working with clients. Darran and his team possess a wide repertoire of skills and deep expertise and in partnering with Inflexion, this offering will only strengthen further.”