Who owns EVELYN PARTNERS?

EVELYN PARTNERS has been 100% owned by NATWEST GROUP since February 2026.

At what enterprise value was EVELYN PARTNERS acquired in 2026?

During the acquisition of EVELYN PARTNERS by NATWEST GROUP in 2026, the transaction's Enterprise Value is estimated to be in the range of 1b - 4b GBP.

What was the EV/EBITDA of EVELYN PARTNERS when it was acquired by NATWEST GROUP?

The estimated EV/EBITDA multiple for EVELYN PARTNERS is in the range of 15x - 25x.

When was EVELYN PARTNERS acquired by NATWEST GROUP?

EVELYN PARTNERS was acquired by NATWEST GROUP in 2026.

What was the revenue of EVELYN PARTNERS at the time of the deal?

The revenue of EVELYN PARTNERS at the time of the deal is estimated to be in the range of 450M - 900M GBP.

What was the EBITDA of EVELYN PARTNERS during the acquisition?

EVELYN PARTNERS's EBITDA is estimated to be in the range of 100M - 200M GBP.

How is the data for the EVELYN PARTNERS acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the EVELYN PARTNERS deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.evelyn.com/press-centre/all-press-releases/permira-and-warburg-pincus-agree-to-sell-evelyn-partners-to-natwest/

What is the average EV/EBITDA multiple for the Financial Services sector in 2026?

The average EV/EBITDA multiple for the Financial Services sector in 2026 is 12.4x.

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Home Database Financial ServicesEVELYN PARTNERS

02/2026

EVELYN PARTNERS acquired by NATWEST GROUP

UNITED KINGDOM Wealth & Asset Management EV 1b - 4b GBP

Context

NatWest Group has agreed to acquire Evelyn Partners from its private equity owners, Permira and Warburg Pincus. This transaction brings together Evelyn Partners' �69 billion in assets under management with NatWest's existing Private Banking and Wealth Management business. The deal aligns with NatWest's strategy to scale its wealth management offering and address the growing demand for financial advice and investment solutions among its customer base. The acquisition remains subject to regulatory approval and is expected to complete in the summer of 2026.

It is worth noting that the fund Apax Partners took control of Evelyn Partners through an LBO in 2024.

EVELYN PARTNERS, which reported an EBITDA margin of in 2025, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Financial Services sector (12.4x).

-> Deep-dive in Financial Services market trends

Target

Evelyn Partners is one of the UK s leading integrated wealth management and professional services groups. Formed through the merger of Tilney and Smith & Williamson in 2020, it offers financial planning, investment management, and the direct-to-consumer online platform Bestinvest. At the time of the deal, it managed £69 billion in assets.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (GBP)

Year

Rev

EBITDA

EBIT

2025

2024

Other operations with EVELYN PARTNERS

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
11/2024	APAX PARTNERS	EVELYN PARTNERS	UNITED KINGDOM	Wealth & Asset Management

REFERENCES

Valuation range: EV 1b - 4b GBP

Revenue range: 450M - 900M GBP

EBITDA range: 100M - 200M GBP

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of EVELYN PARTNERS by NATWEST GROUP are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Acquirer: natwest group