Aquiline has agreed to acquire a majority stake in Isio Group, with the investment expected to help support the next phase of Isio’s growth.

The investment, which is subject to regulatory requirements, will see Exponent, which has supported Isio from before its inception in March 2020, exit its investment in the business.

However, Isio’s management team will continue to retain a significant minority investment.

Exponent and Isio received financial advice on the deal from Evercore and legal advice from Macfarlanes, and Isio’s management were also advised by Liberty Corporate Finance and Proskauer.

Aquiline, meanwhile, were advised by RBC Capital Markets and Herbert Smith Freehills.

Since its inception in 2020, Isio has experienced “significant growth”, more than doubling revenue, profit and headcount in the years following its launch.

The new investment from Aquiline is therefore intended to help support Isio to continue its "ambitious" growth trajectory with a focus on delivering value for clients through innovation, by expanding its core services and growing adjacent practices, including rewards & benefits, investment advice and private capital.

This is expected to be achieved through a combination of targeted mergers and acquisitions (M&A) to build additional service lines and advisory capabilities, and by attracting new talent to the business.

Commenting on the deal, Isio chief executive, Andrew Coles, said: “We have had an exceptional four years working in close partnership with Exponent from the carve out and set up phase and to then support us and to grow our business, creating opportunities for our people and clients.

"We are grateful for their belief and support which has enabled our success today. Our clients and our people have responded well to Isio bringing a bold and innovative approach to the market with a willingness to do things differently.

“This new investment from Aquiline will enable us to continue the journey of bringing high quality service and better outcomes to our clients.

"Key to this is having a culture that appeals to the best talent in the sector with long-term, high quality career opportunities. I am personally excited about the future and look forward to continuing to lead Isio in its next phase of evolution and growth.”

Adding to this, Aquiline managing partner, Igno van Waesberghe, said: “We are delighted to be investing in Isio. It operates in sectors where we have extensive experience and deep networks.

“Isio is a business we have admired and got to know well, not simply as an investment, but first as our advisor and then our partner.

"We look forward to working with Isio’s management team to continue to develop their offering, diversify the business, and support them in further accelerating growth.”

Well-established as an investor in the global retirement and wealth management services sectors, Aquiline also previously invested in Smart Pension, Wealth at Work, and Landytech.

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