On April 4, 2016, Tilney Bestinvest announced it reached an agreement with Palamon Capital Partners to acquire Towry.
UK wealth management firm Tilney Bestinvest has agreed to acquire Towry from Palamon Capital Partners for £600 million. After closing, the combined enterprise will consist of over 240 financial planners and 120 investment managers who will be responsible for over £20 billion of assets for high net worth clients.
The resulting business, which will offer a range of services such as investment management, investment advice, and financial planning, will service clients throughout an extensive network of offices in the UK.
Evercore and Citi advised Towry and Tilney Bestinvest, respectively, on the transaction.
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