Apax Global Alpha to Invest €28 Million in Evelyn Partners’ Accountancy Business

2 min read | November 28, 2024 02:35 AM AEDT | By Team Kalkine Media

Apax Global Alpha to Invest €28 Million in Evelyn Partners’ Accountancy Business — Image source: shutterstock

Details of the Transaction

On 25 November 2024, the Apax XI Fund, where AGA serves as a limited partner, confirmed a definitive agreement to acquire Evelyn Partners’ accountancy business. The practice will be rebranded as S&W, drawing on the rich heritage of Smith & Williamson, which dates back to 1881.

The transaction, still subject to customary closing conditions, will establish S&W as a standalone leader in the UK mid-market accountancy space.

Strengthening the Mid-Market Segment

Evelyn Partners’ accountancy business, headquartered in London, offers a wide array of services, including:

Audit and Business Outsourcing
Business Tax and Private Client Tax
Advisory Services

Apax identified mid-market accountancy as a promising investment area due to rising regulatory pressures and conflicts that reduce the competitiveness of the Big Four in this segment. S&W stood out as an attractive platform due to its strong brand, service quality, and proven growth record.

Investment Strategy

Apax plans to support S&W’s growth by:

Enhancing client services with innovative go-to-market strategies and cross-selling initiatives.
Investing in technology to improve operational efficiency and client experience.
Exploring opportunities for strategic mergers and acquisitions (M&A) in the fragmented mid-market sector.

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