The private equity owner of Evelyn Partners, one of Britain’s largest wealth management companies, is exploring options to sell down its £1.5 billion stake.
Permira is sounding out advisers to sell its majority stake in the business, whose activities also cover professional services from auditing and tax advice to insolvency, as it looks to cash in on a wave of investor interest in the sector.
A deal could take the form of an outright sale or a break-up, with Evelyn’s accountancy business likely to appeal to other private equity buyers given the current strong interest in the sector.
Earlier this month, The Sunday Times revealed that Grant Thornton, Britain’s sixth-largest accountancy firm, was planning to bring in outside investment from a private equity firm. In