Private equity firms are circling Transact as a sale of the platform moves closer.
The firms considering bidding for Transact include US-based Corsair Capital, London-based TDR Capital and New York-based Aquiline Capital Partners, Money Marketing understands. No life and pension firms are thought to have expressed a serious interest in the deal.
Goldman Sachs is acting for Transact in the sale.
In August, Transact chief executive Ian Taylor told Money Marketing the firm was working towards a long-term goal of either selling the business or floating on the stock exchange.
In its latest accounts, Transact reported pre-tax profits of £16.9m for the year to 30 September 2013, up by 14 per cent year-on-year. The platform also reported assets under administration of £14.3bn.
Late last year, the platform carried out a share buyback in which it purchased 4 per cent of the business from shareholders. It also moved to restructure the group, bringing all parts of the business under a new holding company.
All parties declined to comment.