Twenty7tec is in the “later stages” of investment talks with an unnamed private equity firm working with advisory business FRP Corporate Finance, which may lead to the adviser tech company acquiring rivals this year.
Twenty7tec says it is “in the later stages of a process that may see a private equity investor acquire a stake in the business.
“If completed, the capital being provided as a result of this process would support accelerated investment in the company’s existing product set, and also fund further acquisitions of other exciting advice tech businesses.”
It adds that FRP Corporate Finance, which played a role in Twenty7tec’s three previous acquisitions, is running current talks.
Twenty7tec chief executive James Tucker says: “We remain extremely ambitious for Twenty7tec and the role that we can play in supporting all businesses involved in financial advice.
“We believe that consolidation needs to continue to occur across the advice tech market in order to help technology firms deliver the best possible solutions to customers.”
“We’re on track to achieve the intended outcome of this process, and we will make a further announcement once it is complete.”
Last year, Twenty7tec acquired digital lead converter firm Meet Parker, mortgage affordability platform Broker Sense and mortgage, protection and wealth management customer relationship management firm Bluecoat Software for undisclosed sums.
