EVELYN PARTNERS
Acquired by
NATWEST GROUP
EVELYN PARTNERS acquired by NATWEST GROUP
Target
EVELYN PARTNERS
Acquirer
NATWEST GROUP
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.
EVELYN PARTNERS, which reported an EBITDA margin of LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN premium to the 14.0x average currently observed in the Financial Services sector.
Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
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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
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Equity Value
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Multiples Analysis
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EV / EBITDA
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EV / EBIT
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Historical Financials (EUR)
Other operations with EVELYN PARTNERS
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