UK Private Equity Exits Weekly Summary: Buyouts & IPOs 7-11 Oct 2025

UK IPO News This Week

Recent IPO Activity (Week Ending 11 October 2025)

Princes Group plc (expected LSE listing) confirmed intention to proceed with London IPO on 9 October, targeting late October listing with approximately £1bn valuation

• Liverpool-based food manufacturer (Princes tuna, Napolina brands) advancing IPO plans following 3 October announcement

• Offering will comprise new ordinary shares with parent New Princes Group retaining majority stake

• Proceeds earmarked for acquisitions and growth initiatives

Shawbrook Group plc confirmed intention to float on 12 October (week ending 11 October), targeting November listing with potential £400m raise

• BC Partners-backed specialist lender advancing Main Market IPO plans

• Expected to be largest London listing of 2025 to date

• Targeting minimum free float for FTSE UK indices eligibility

Upcoming IPO Pipeline

• Q4 pipeline showing robust momentum with multiple companies advancing through preparation stages

• Market sentiment improving despite muted Q3 activity

• Strong 2026 pipeline suggests confidence returning to London capital markets

UK Private Equity Buyouts This Week

Major Transactions

WSP Global completed £363m acquisition of Ricardo plc on 7 October, adding 2,700 employees across 20+ countries

• UK engineering and environmental consultancy acquired at 430p per share (28% premium)

• Expands WSP's capabilities in energy transition, water, and rail systems

• Approvals secured in UK, Australia, and Saudi Arabia

Lloyds Banking Group confirmed acquisition of Schroders' remaining 49.9% stake in Schroders Personal Wealth on 9 October

• Share swap transaction with no cash consideration (Schroders receives Lloyds' 19.1% holding in Cazenove Capital)

• Ends six-year joint venture, giving Lloyds sole ownership of adviser managing £17bn for 60,000 clients

• SPW to be rebranded Lloyds Wealth

Brown & Brown Inc (European division) acquired All Medical Professionals Ltd (AMP), Swindon-based medical insurance broker

• Undisclosed sum for specialist MGA serving medical, dental, and hospital sectors

• AMP continues trading under existing brand within Brown & Brown's Digital Division

• Extends UK specialty insurance footprint in regulated vertical

Ekco (Dublin-based cloud/cybersecurity group) acquired Solsoft, UK managed IT and security services provider

• Seventh acquisition in two years, expanding UK mid-market presence

• Adds enterprise-grade managed security capabilities

• Reflects consolidation among regional MSPs serving regulated industries

US insurance consolidator completed acquisition of London-based MGA (parties undisclosed)

• Adds underwriting and distribution capacity in specialist commercial lines

• Reflects continued foreign investment in UK insurance ecosystem

Secondary Market Activity

• Deal flow remained consistent across core sectors through the week

• Private equity activity concentrated in regulated and technical sectors where compliance and expertise drive value

• Market conditions supportive for strategic consolidation and portfolio integration

AIM Market Activity (7-11 October 2025)

• Steady admission activity maintained through the week

• Small and mid-cap sectors showing resilience

• Trading volumes consistent with early Q4 patterns

Market Intelligence Summary

Total UK PE Activity 2025: Steady momentum maintained into Q4

Weekly Volume: Consistent transaction flow with two major IPO confirmations

Market Trend: Positive signals with improving sentiment and strengthening pipeline

LSE Performance: Multiple high-profile IPO confirmations demonstrate renewed appeal of London markets

Complete Deal Flow Context

The second week of October delivered significant momentum for London's capital markets with two major IPO confirmations—Princes Group and Shawbrook Group—signalling renewed confidence in UK exchanges. Combined with robust PE buyout activity across engineering, wealth management, insurance, and technology sectors, the week reinforced positive momentum building through Q4.

Dealmaking remained concentrated in regulated and technical sectors where scale, compliance capability, and specialist expertise drive value. WSP's £363m Ricardo acquisition and Lloyds' strategic consolidation of Schroders Personal Wealth exemplify how buyers are pursuing depth and integration rather than opportunistic expansion.

Key Insight: The confirmation of two substantial IPOs within days—potentially the largest London listings of 2025—provides a significant confidence boost to the market. Consistent PE deal flow across multiple sectors, combined with a strengthening Q4 and 2026 pipeline, suggests London's capital markets are transitioning from recovery to sustained growth momentum.