Apax Partners to acquire professional services business of Evelyn Partners Group.

Apax Partners, a private equity firm, agreed to acquire professional services business of Evelyn Partners Group, a provider of wealth management, professional services, online investing and fund solutions. Financial terms were not disclosed. “The exciting transaction we have announced today is very positive for both businesses. Importantly, we are committed to a strong, ongoing relationship so our mutual clients will see complete continuity in the teams that support them. Plans for an orderly separation are well advanced and I am grateful to the many colleagues across both businesses who have been involved in this. As well as being positive for our clients, the transaction will also create value for our investors, including the many colleagues who are shareholders," Paul Geddes, Evelyn Partners CEO.