At what enterprise value was SMITH & WILLIAMSON (S&M) acquired in 2020?

During the acquisition of SMITH & WILLIAMSON (S&M) by TILNEY in 2020, the company was valued at an estimated revenue multiple of below 5x. 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 Business Services industry currently tracks an average EBITDA multiple of 11.1x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of SMITH & WILLIAMSON (S&M) when it was acquired by TILNEY?

The estimated EV/EBITDA multiple for SMITH & WILLIAMSON (S&M) is in the range of 10x - 18x. For comparison, the Business Services sector currently shows an average EBITDA multiple of 11.1x. Join our community for free to access full valuation data and industry trends.

When was SMITH & WILLIAMSON (S&M) acquired by TILNEY?

SMITH & WILLIAMSON (S&M) was acquired by TILNEY in 2020.

What was the revenue of SMITH & WILLIAMSON (S&M) at the time of the deal?

The revenue of SMITH & WILLIAMSON (S&M) at the time of the deal is estimated to be in the range of 450M - 900M GBP. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of SMITH & WILLIAMSON (S&M) during the acquisition?

SMITH & WILLIAMSON (S&M)'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 SMITH & WILLIAMSON (S&M) 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 SMITH & WILLIAMSON (S&M) 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/tilney-and-smith-williamson-announce-transformational-merger/

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Home Database Business ServicesSMITH & WILLIAMSON (S&M)

02/2020

SMITH & WILLIAMSON (S&M) acquired by TILNEY

UNITED KINGDOM Professional Services / Consulting & Audit / Accounting & Audit EV 1b - 4b GBP

Context

The merger between Tilney and Smith & Williamson creates the UK's leading integrated wealth management and professional services group, with over £45 billion of assets under management. The combined business will offer an unrivalled breadth of value-added services, focusing on private clients, businesses, and charities. The strategic rationale for the merger is to create a unique and differentiated client proposition, covering professional services, financial planning, and investment management. The combined group will benefit from an expanded office network across 36 towns and cities in the UK, Ireland, and the Channel Islands, and will deliver investment services that can cater to the full range of clients' investment needs. The merger will also enable enhanced investment in technology for the benefit of clients, and will provide clients with continuity in their relationships with their investment managers, financial planners, or professional services teams. The combined group will be led by a strong management team, with Chris Woodhouse as Group Chief Executive and Will Samuel as Chairman. The merger is expected to deliver long-term benefits for clients, employees, and investors, and will create a scaled-up group with an unrivalled service proposition that can support clients with the management of both their personal wealth and business interests.

SMITH & WILLIAMSON (S&M), which reported an EBITDA margin of LOGIN in 2020, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the Business Services sector (11.1x).

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.

-> Deep-dive in Business Services market trends

Target

Founded in 1881 as Smith & Williamson, the target is a top-ten UK accountancy and professional services firm. It operates with approximately 1,600 employees and over 121 partners across 15 offices. The firm specializes in the mid-market segment, providing a comprehensive suite of services including business and private client tax advice, assurance, forensic services, restructuring, and transaction advisory. Since its 2020 merger into the Evelyn Partners group, the division has achieved 14% annual organic revenue growth and completed seven bolt-on acquisitions since early 2023.

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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 SMITH & WILLIAMSON (S&M) by TILNEY 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).