The sale of Evelyn Partners to Natwest is expected to spur on more bigger transactions in the sector, as more banks look to up their financial advice offerings.
The £2.7bn deal values Evelyn Partners at around 15x earnings before interest, taxes, depreciation, and amortisation (EBITDA), a headline multiple that is likely to spur on other sellers in the market. Evelyn Partners acquistion by banking giant Natwest, expected to close this summer, sets the scene for larger deals, M&A specialists told PA. Solve Together CEO Dave Mason described the deal as a "bold move" by Natwest and "significant news" for the sector. He said that the Evelyn Partners and Natwest deal is expected to drive more banks on to make similar deals. "It forms part of...
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