Clearwater International UK advises Inflexion on the management buy-out of ITM

Clearwater International UK has advised Inflexion Private Equity on the management buy-out of Independent Transition Management Limited (ITM), leading provider of specialist data 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. 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 through its next phase of growth.

The Clearwater International team was led by Partners James Barraclough and Marcus Archer, with support from Director Guillaume Arnaldez and Associate Dan Shrimpton.

“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.”

Duncan Howorth, ITM’s Executive Chairman

“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.”

Darran Blount, ITM’s CEO

“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.”

Simon Turner, Managing Partner at Inflexion

“ITM is very well positioned to capitalise on the opportunities within this market, as well as utilising the expertise of Inflexion, to drive the development of the company. We expect to see this market increase, as data management solutions become essential in the day-to-day workings of a business. With the guidance of Inflexion, ITM is set for the next step on its strategic growth path and we wish the team all the best.”

James Barraclough, Partner, Clearwater International