Inflexion backs LCP with £41m Partnership Capital investment

Inflexion Private Equity today announces that funds managed by Inflexion have completed a Partnership Capital, minority investment, of £41 million in Lane Clark & Peacock LLP (“LCP”), a leading firm of financial consultants specialising in pensions, investment and insurance.

Drawn to Inflexion’s Partnership Capital solution, LCP’s individual partners sought a minority investor to support their buyout of the stake in the firm previously owned by Pan African financial services group, Alexander Forbes.

Inflexion’s partnership with LCP will help accelerate organic growth through supporting innovation, adding services and enhancing business development to drive further customer acquisition.

Founded in 1947, LCP provides expert, impartial actuarial, investment and general consulting advice to 700 corporate and pension trustee clients that include a third of the FTSE 100 as well as a number of insurance companies and charities. The UK pension consulting market is worth c. £1.2bn in 2016 and has enjoyed a long period of growth. LCP has grown revenue over the last fifteen years. The business capitalises on significant demand from corporate trustees and sponsors seeking complex advice as regulation intensifies and diverse pension solutions come to market.

David Whileman, Head of Partnership Capital at Inflexion, commented: “It is great to see our Partnership Capital investment solution in high demand. Today we have partnered with LCP, a highly successful and respected business in its field just weeks after our investment into Outdoor Plus. Again the unique flexibility of our Partnership Capital offering unlocks opportunities to invest in highly sought after businesses. In this case, investing in a high-performance professional services partnership with an enviable client base and culture of innovation.”

Aaron Punwani, Strategy Director at LCP, commented: “The last 15 years have been a period of exceptional growth for LCP in terms of our client base, service offerings and reputation. The buyout of Alexander Forbes’ stake by LCP’s partners is a huge vote of confidence in the firm’s strategy, our clients and our people. The minority investment from Inflexion’s Partnership Capital Fund will support the next chapter in LCP’s growth story through Inflexion’s entrepreneurial spirit, business connections and access to capital, as we continue to innovate to meet clients’ ever changing needs. The transaction consolidates LCP’s position as the leading independent, owner-managed pensions, investment and insurance consultancy in the UK and Ireland.”

The Inflexion deal team comprised David Whileman, Phillip Edmans and Edward Lynch. David and Philip will join the board on completion.

Inflexion was advised by Addleshaw Goddard.