Permira-backed Tilney Bestinvest completed the acquisition of Towry from Palamon Capital for £600m.

Permira-backed Tilney Bestinvest, a provider of financial planning and investment management services, completed the acquisition of Towry from Palamon Capital, a private equity firm, for £600m. “Towry and Tilney Bestinvest are an excellent fit with both firms having highly skilled teams that provide top quality financial planning and investment management services to clients. Moving forwards the combined business will be able to offer an even wider range of services for clients and career opportunities for employees in all parts of the UK. I am proud to have worked with Palamon to make Towry one of the national leaders in the UK wealth management sector. It has been my privilege to lead the Towry business over the last 2 years during which time we have more than doubled profitability whilst driving strong improvements in client satisfaction. I am confident that the enlarged Group will continue to thrive under Peter Hall’s leadership," Rob Devey, Towry CEO.