The £2.7bn deal values Evelyn Partners at roughly 15x earnings before interest, taxes, depreciation, and amortisation (EBITDA), a headline multiple likely to encourage other market sellers.
Evelyn Partners’ acquisition by banking giant NatWest, expected to complete this summer, signals the potential for larger transactions, according to M&A specialists speaking to PA.
Solve Together CEO Dave Mason called the deal a “bold move” by NatWest and “significant news” for the sector. He added that it is likely to prompt other banks to pursue similar acquisitions.
“This deal reflects a broader trend we anticipated, where successful wealth businesses—often grown through acquisitions—offer a potentially lucrative route back into the advice market for banks that largely exited following the Retail Distribution Review,” Mason said.