Evelyn Partners has completed the sale of its accountancy and advisory business, which has subsequently rebranded as S&W.
The new independent firm, S&W, will operate as the “largest mid-market player in its sector”.
After reaching a binding agreement in November 2024, Evelyn Partners Group divested its Professional Services business to funds advised by Apax.
This transaction has resulted in the creation of two distinct businesses: Evelyn Partners, now focusing solely on wealth management with £63bn ($81.2bn) in client assets, and S&W, a professional services firm.
With a workforce of approximately 1,800 employees and more than 120 partners, S&W operates across 15 towns and cities in the UK and the Republic of Ireland.
The firm said it now plans to invest in talent, technology, and client services and drive growth through mergers and acquisitions.
S&W’s service offerings span a wide range, from business and private client tax advice to assurance and business services, as well as advisory and digital services that include recovery and restructuring, transaction services, and forensic advice.
Andrew Wilkes, who previously served as chief professional services director at Evelyn Partners, will now serve as CEO at S&W.
Wilkes said: “S&W combines the heritage of Smith & Williamson, which was founded in 1881, with a new brand and philosophies driving the business to cement its leadership position in the accountancy mid-market.
“Under S&W we are committed to continue delivering the high-quality accountancy and advisory services that our clients expect from our experienced teams.
“We look forward to having the Apax Funds invest in the business, providing capital and knowledge to drive future growth. The launch of S&W gives us a platform to continue our M&A programme and attract further top talent at all levels.”
Andrew Baddeley, the former group CFO of Evelyn Partners, takes on the role of CFO at S&W.
