The Monday Lowdown ⬇️

If you're new around here, every day I share the 4-5 best accounting insights I saw in the past 24 hours.

I scroll. so you don't have to.

💎 WTF of the Day

Private Equity Buys Evelyn Partners for 700M

Apax Partners just dropped £700 million on Evelyn Partners’ accounting arm. The deal shifts Evelyn’s focus solely to wealth management, shedding its accounting division. The firm, managing £62.7 billion in assets, sold at a 14.5x EBITDA multiple—showing solid financials.

This move signals growing interest in UK wealth management from private equity, but it raises questions about the impact on professional services. If you run a firm, this is a wake-up call—private equity is all-in on financial services, and things are about to get interesting.

💎 What’s poppin in accounting

Coinbase’s CFO Just Cashed Out $1.33 Million

Coinbase’s Chief Accounting Officer, Jennifer N. Jones, just sold $1.33 million in stock. She’s not quitting, though—this is just her covering tax bills after cashing in on restricted stock units (RSUs).

Over the past year, she’s sold a ton of shares—144,000 to be exact. That’s a serious amount of stock to be moving around. While it’s common to sell RSUs for taxes, the sheer volume of sales is raising a few eyebrows.

💰 Today's Sponsor

Unlock your firm’s revenue.

Spending days engaging clients? Chasing late payments? Dealing with scope creep? We get it. Ignition helps accounting and professional services businesses reclaim time, profitability and cash flow. Automate proposals, billing, payments and workflows in a single platform.

Check out ignitions Website

 📊 Weekly Trend Chart

PE Just Took Over Jersey Mike’s for $8 Billion

Jersey Mike’s, the sub-slinging juggernaut, just sold a majority stake to private equity titan Blackstone for a cool $8 billion. This move is set to turbocharge their expansion plans, aiming for 4,000 locations and $6.5 billion in sales by 2027.

Fans are worried that Blackstone's track record with other brands might mean higher prices and smaller portions. Founder Peter Cancro is sticking around with a minority stake, so the "Mike's Way" might just stay the same. 

#😂

😂

P.S. What'd you think of today's edition? Hit 'reply' to this email and lemme hear it!