Inflexion is pleased to announce that it has entered into an agreement to sell its minority stake in Lane Clark & Peacock LLP (“LCP”), a financial consultancy specialising in pensions, investment and insurance, to Charterhouse Capital Partners. The sale follows a four-year period of strong growth, which resulted in revenues increasing by over 50% and pension scheme assets under advice increasing from c. £100bn to c. £245bn.
London and Winchester based LCP provides expert investment and general consulting advice to c.650 corporate and pension trustee clients. Since its establishment in 1947, the firm’s impressive client list now encompasses nearly half of the FTSE 100 as well as several insurance companies and charities.
Inflexion’s minority funding support, provided by its dedicated Partnership Capital Fund in December 2016, enabled LCP Partners to regain control by supporting their buyout of the business. LCP’s Partners are also increasing their own equity stake as part of the transaction. During the four-year partnership, LCP has consolidated its market position as the leading independent provider of pension and investment consulting services. Expert headcount increased from c. 600 to nearly 800. LCP has increased its investments into broader revenue streams such as insurance, energy and analytics, some of which are now growing at over 20% per annum. In addition, the firm’s management has a forward-looking and responsible leadership style, which had led to LCP becoming an industry leader in the use of technology and in Diversity and Inclusion during the period of our investment.
LCP’s growth over the last four years has been phenomenal. Our Partnership Capital investment has enabled the LCP Partners to regain control of their business whilst receiving strategic support and encouragement. The firm has taken a visible leap forward in terms of the quality of its brand, client portfolio and appeal as an employer of top talent. We’ve been privileged to support Aaron and the partnership and wish them every success for the future as they continue to go from strength to strength.
Inflexion gave us just the right amount of support during our successful four-year partnership. Their minority funding at the outset enabled LCP’s Partners to regain majority ownership of the business, which has had significant benefits for our clients and our people. Following on from the initial deal, Inflexion provided valuable support with their input, connections and as a sounding board, but really let us run our business. We are now in a substantially enhanced position and look forward to further growth with our new partners.
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