The business, which was formerly known as Smith and Williamson, decided to consolidate its brands under a new name back in June of 2022
Evelyn Partners’ private equity owner reportedly could be looking to split off its accounting arm in a £500m deal, according to The Sunday Times.
The outlet revealed that Permira is considering making the move as investor interest in professional service firms continues to grow and has appointed investment bank Evercore to lead the sales process.
The business, which was formerly known as Smith and Williamson, decided to consolidate its brands under a new name back in June of 2022.
It now employs over 4,000 members of staff and most recently revealed that its adjusted EBITDA rose 18.3% to £103.9m for the six months ended 30 June 2024.
Alongside this, the company’s assets under management (AUM) hit a record £62.2bn, up 13.3% year-on-year and 5.2% since 31 December 2023.
The firm’s operating income increased 10.3% to £360.8m, up from £327.2m in the same period last year.
This included a 23.4% growth in professional services operating income which the company put down to continued strong organic growth alongside the contribution of acquisitions made last year.
Evelyn Partners declined to comment on reports.
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