At what enterprise value was JTC acquired in 2025?

During the acquisition of JTC by PERMIRA in 2025, the company was valued at an estimated revenue multiple of 5x - 12x. The transaction's Enterprise Value is estimated to be in the range of 1b - 4b GBP. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the Financial Services industry currently tracks an average EBITDA multiple of 12.9x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of JTC when it was acquired by PERMIRA?

The estimated EV/EBITDA multiple for JTC is in the range of Above 20x. For comparison, the Financial Services sector currently shows an average EBITDA multiple of 12.9x. Join our community for free to access full valuation data and industry trends.

When was JTC acquired by PERMIRA?

JTC was acquired by PERMIRA in 2025.

What was the revenue of JTC at the time of the deal?

The revenue of JTC at the time of the deal is estimated to be in the range of 250M - 500M GBP. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of JTC during the acquisition?

JTC's EBITDA is estimated to be in the range of 100M - 200M GBP. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the JTC 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 JTC 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.permira.com/news-and-insights/announcements/permira-offer-for-jtc-plc

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Home Database Financial ServicesJTC

11/2025

JTC acquired by PERMIRA

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

Context

JTC PLC has been acquired by Permira Advisers LLP through the special purpose vehicle Papilio Bidco Ltd. The offer was presented after a competitive process that included a rival bid from Warburg Pincus, and it received unanimous recommendation from JTC’s board. The transaction is structured as an all‑cash purchase of all outstanding shares, with financing supplied primarily by Permira VIII and co‑investment from the Canada Pension Plan Investment Board, subject to customary regulatory approvals and closing conditions. Permira’s rationale centers on consolidating the fragmented fund‑administration market, leveraging JTC’s global footprint and technology platform to create scale and cross‑sell opportunities. The firm anticipates that private ownership will accelerate JTC’s investment in artificial‑intelligence tools, expand its service catalogue, and enable faster execution of further bolt‑on acquisitions. Permira also expects to apply its operational expertise to improve cost efficiency and enhance client‑service margins across the combined entity. Post‑closing, JTC will operate as a privately held company, allowing more flexible capital deployment and longer‑term strategic planning. The acquisition is projected to increase market concentration, intensify competition among remaining independent providers, and potentially reshape pricing dynamics in outsourced fund and corporate services. The combined entity aims to deliver higher service reliability and broader geographic coverage for its institutional client base.

JTC, which reported an EBITDA margin of LOGIN in 2023, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level LOGIN as high as the average currently observed in the Financial Services sector (12.9x).

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

JTC plc is an international professional services group specializing in the administration of legal and financial structures for an institutional client base. Listed in the United Kingdom, the group supports investment funds, asset managers, family offices, and private clients in the establishment, administration, and compliance of investment vehicles. Its core activity is based on the provision of high value-added recurring services, including fund administration, corporate services, the management of asset holding structures, and regulatory compliance solutions. The business model is largely driven by recurring revenues from long-term contracts, providing strong visibility over cash flows.

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REFERENCES

Valuation range: EV 1b - 4b GBP

Revenue range: 250M - 500M 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 JTC by PERMIRA are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Press release: view release

Target: jtc

Acquirer: permira