NatWest Group has agreed to purchase Evelyn Partners from funds suggested by Permira and Warburg Pincus. The deal is ready to happen for a £2.7 billion enterprise worth, with Ardea Partners Worldwide, UBS, BofA Securities, Macfarlanes, and Carey Olsen among the many advisors concerned within the settlement.
Paul Geddes, CEO of Evelyn Partners, commented, “We’re delighted to be a part of NatWest Group, which marks an thrilling new chapter for Evelyn Partners. We each have a long-standing historical past as extremely regarded wealth managers with a client-centric tradition. Collectively, we’ve got the dimensions, assets, and shared imaginative and prescient to present unparalleled service to our shoppers. We glance ahead to working collectively to construct on our success and drive future development.”
Evelyn Partners is a UK wealth supervisor with greater than 180 years of heritage overseeing £69 billion of Belongings Underneath Administration and Administration (AUMA). By way of a string of its personal acquisitions – together with offers for insolvency consultancy ReSolve, in addition to regional places of work of Haines Watts – Evelyn Partners has constructed up an built-in proposition spanning monetary planning, discretionary funding administration, and a direct-to-consumer platform in BestInvest.
The 270 monetary planners and 325 funding managers mixed within the agency have generated a compound annual development fee in AUMA in extra of seven%, together with full yr 2025 EBITDA of £179 million. By combining Evelyn Partners’ £69 billion of AUMA with NatWest Group’s £59 billion, the deal will deliver that whole AUMA to £127 billion, together with whole buyer property and liabilities to £188 billion.
NatWest Group additionally intends to ship income synergies by bringing Evelyn Partners’ main monetary planning and funding administration options along with NatWest Group’s full suite of banking and wealth administration options to our 20 million clients. This may also speed up the supply of NatWest Group’s technique, additional diversifying its revenue by rising payment revenue past its conventional banking sector.
Paul Thwaite, CEO of NatWest Group, stated, “Bringing collectively these two main companies creates a novel alternative to present monetary planning, financial savings and funding companies to extra households and folks throughout the UK. At a time when the advantages of saving and investing are more and more a part of the nationwide dialog, we will help clients to make extra of their cash by a broader vary of companies, in addition to serving to to drive development and funding throughout the economic system.
The transaction is topic to customary regulatory approvals, and is predicted to shut in the summertime of 2026.
The deal was supported by professionals from Ardea Partners Worldwide and BofA Securities – who served as joint lead monetary advisers to NatWest. Elsewhere UBS additionally acted as a monetary adviser to NatWest.
On the promote aspect, Carey Olsen suggested Evelyn Partners. The Carey Olsen staff acted on the sale alongside Macfarlanes, and was led by company companions Tom Carey, David Taylor and Matt Brehaut, supported by senior associates Steven Khan and Vaishali Gupta and associates Damilola Obafemi and Jennifer Mills.
The Carey Olsen transaction staff additionally comprised numerous further specialists throughout Jersey and Guernsey, together with regulatory companion William Grace, counsel Oliver Lindop and affiliate Thomas de la Cour; employment companion Huw Thomas and counsel Tarina Le Boutillier; property companion Will Whitehead and senior affiliate Lyndsey Houlette; and pensions counsel Julie Currie.
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