Cloud-based adviser fintech provider Intelliflo, which supports many Financial Planners, has been acquired by US investment firm Carlyle in a deal worth up to $200m (£148m).

The senior leadership team will remain unchanged, Intelliflo said.

The purchase price of up to $200m is comprised of $135m (£100m) at closing, which is expected in the fourth quarter of this year subject to certain closing conditions, and up to an additional $65m (£48m) in potential future earn outs, Carlyle said.

The deal includes Intelliflo’s US-based subsidiaries, including RedBlack, a provider of SaaS-based portfolio rebalancing tools, and Intelliflo Portfolio, a portfolio management software solution for US investment advisers.

The subsidiaries will become a standalone business called RedBlack, run by a separate management team.

Carlyle said: "This separation will allow both businesses to better serve and focus on their existing customers and markets."

Fernando Chueca, managing director in the CETP investment advisory team at Carlyle, said: “intelliflo is a mission-critical software provider to the UK’s wealth management ecosystem, with a deeply embedded and loyal customer base." He said the deal would "unlock the company’s full potential and deliver a new stage of growth.”

Nick Eatock, CEO and founder of Intelliflo, said the deal is “a powerful vote of confidence in the strength of our business and our people – and in our strategy to deliver innovation and impact for advisers.”

He said with Carlyle’s backing, the firm will accelerate its growth across the UK and Australia.

Mr Eatock said: “This move gives us the freedom and backing to do what we do best – and with Carlyle’s deep expertise in fintech and SaaS, we have the perfect partner to accelerate our next phase of innovation and growth.”

He added: “Our commitment to advisers and partners remains as strong as ever. And our focus on shaping the digital future of financial advice is only deepening.”

In June Intellifo partnered with adviser platform Transact to launch a data transfer application. In the same month it launched two new products - the AI-driven, adviser-client relationship software Intelliflo IQ and Intelliflo Video, a video integration service for advisers.

Founded in 2004, Intelliflo currently supports approximately 2,600 firms and 28,000 users in the UK.

Intelliflo software is used by more than 30,000 financial advisers worldwide covering 3m end clients supporting the management of approximately £450bn in client assets.

Carlyle was founded in 1987 and the US group now manages $465bn (£345bn) in assets under management investing in global private equity, global credit and Carlyle AlpInvest as of 30 June. Carlyle has more than 2,300 staff operating out of 27 offices in Asia, Australia, Europe, the Middle East and North America.