NatWest Group has agreed to accumulate Evelyn Companions from funds suggested by Permira and Warburg Pincus. The deal is ready to happen for a £2.7 billion enterprise worth, with Ardea Companions Worldwide, UBS, BofA Securities, Macfarlanes, and Carey Olsen among the many advisors concerned within the settlement.
Paul Geddes, CEO of Evelyn Companions, commented, “We’re delighted to affix NatWest Group, which marks an thrilling new chapter for Evelyn Companions. We each have a long-standing historical past as extremely regarded wealth managers with a client-centric tradition. Collectively, we now have the dimensions, sources, and shared imaginative and prescient to supply unparalleled service to our shoppers. We look ahead to working collectively to construct on our success and drive future development.”
Evelyn Companions is a UK wealth supervisor with greater than 180 years of heritage overseeing £69 billion of Belongings Beneath 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 Companions 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 price in AUMA in extra of seven%, together with full 12 months 2025 EBITDA of £179 million. By combining Evelyn Companions’ £69 billion of AUMA with NatWest Group’s £59 billion, the deal will convey 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 means of bringing Evelyn Companions’ 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 even speed up the supply of NatWest Group’s technique, additional diversifying its earnings by growing charge earnings past its conventional banking sector.
Paul Thwaite, CEO of NatWest Group, stated, “Bringing collectively these two main companies creates a singular alternative to supply monetary planning, financial savings and funding companies to extra households and other people throughout the UK. At a time when the advantages of saving and investing are more and more a part of the nationwide dialog, we can assist clients to make extra of their cash by means of a broader vary of companies, in addition to serving to to drive development and funding throughout the financial 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 Companions 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 facet, Carey Olsen suggested Evelyn Companions. 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 extra 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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