Transact parent kicks off IPO journey

Transact parent kicks off IPO journey

IntegraFin Holdings Limited, parent company to adviser platform Transact, has confirmed it will be going ahead with plans to float on the London Stock Exchange, a move widely trailed for the past few years.

Plans to list were revealed by the company almost exactly a year ago, but were heralded at least two years before that, in the wake of a failed bid to sell the business in 2014.

Integrafin is aiming to be the first new listing on the London Stock Exchange in 2018.
The group was founded in April 1999 and launched Transact in 2000 as an independent adviser platform unaffiliated with any of the major life company or investment houses, unlike many rivals.

According to the company Transact holds approximately £29.7bn of funds under direction as at 31 December 2017, and serves more than 150,000 clients on behalf of over 5,100 financial advisers across 2,800 firms.

Transact is also rare among its counterparts because IntegraFin fully owns its software and intellectual property. Generally UK investment platforms use third party technology, with varying degrees of success and cost when it comes to updating the software.

Profits after tax at Transact increased by 43 per cent for the year to 30 September 2017, hitting £29.9m, according to IntegraFin’s latest accounts.

Gross inflows rose by 49 per cent to £5.31bn and net inflows increased by 66 per cent over the 12-month period.

Ian Taylor, Transact chief executive, cited a growing demand for financial advice, an increasingly complex investment landscape, pension freedoms and strong growth drivers in the UK wealth management market, as positive fundamentals for would-be investors to consider.

“We believe that we are well-positioned to continue to achieve long-term sustainable growth, returning value to our shareholders, customers and staff alike. 

“We are extremely positive about the future."

Patrick Snowball, company chairman, praised the “experienced management team that is personally invested in the business and committed to maintaining its impressive track record of sustained growth and value creation”.

“I believe the business is very well positioned to continue its leadership in the ever-expanding platform market.

“I look forward to contributing to this next exciting stage and helping IntegraFin to maintain its position as one of the leading B2B platform businesses in the UK.”