Evercore has agreed to acquire the London-based boutique advisory firm Robey Warshaw for £146 million, in a move designed to strengthen the US investment bank’s presence in the UK and across Europe.

The transaction, which is expected to close in the fourth quarter, will be paid in two tranches. The first payment will be made in Evercore shares at closing, while the second will be delivered a year later in either shares or cash. Additional payments may be made if certain performance targets are met over a multi-year period.

Founded in 2013 by former Morgan Stanley bankers Simon Robey and Philip Apostolides, alongside former UBS dealmaker Simon Warshaw, Robey Warshaw has become one of London’s most prestigious advisory firms. The company has advised on major deals including HSBC’s defence against a potential breakup and a consortium’s bid for Chelsea Football Club.

Roger Altman, founder and senior chair of Evercore, said: “We are taking another big step forward by combining with Robey Warshaw. This will elevate the firm further in the UK, across Europe and globally.”

Evercore’s chief executive officer John Weinberg described the acquisition as an opportunity to expand the bank’s reach. He said: “Robey Warshaw brings extraordinary, long-standing relationships with some of the world’s leading multinational companies. Their addition to Evercore strengthens our global platform and creates exciting opportunities to expand the value we deliver to clients around the world.”

Robey Warshaw’s co-founder Simon Robey commented on the deal, saying: “Our clients will continue to get the personal attention and care we have always strived to provide. They will also be able to benefit from greater global reach, broad product capabilities and sector expertise. Evercore is the right home for all of us, and I’m personally very excited to have made a long-term commitment to playing my part in its future.”

The acquisition is expected to boost Evercore’s profits in the combined company’s first full year.

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