Rand Merchant Bank Nigeria Limited (RMBN) has been recognised by DealMakers AFRICA for its exceptional performance and strategic advisory capabilities in high-profile transactions across West Africa.
The bank earned the prestigious Private Equity Deal of the Year 2024 award for its lead advisory role in the exit of CardinalStone Partners from iFitness to Verod Capital Management.
The transaction, which reflects RMB’s deep expertise in executing complex private equity exits, speaks about its growing influence in facilitating transformative deals within the region’s dynamic investment landscape.
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In addition to this recognition, RMB Nigeria was named the top Mergers and Acquisitions Financial Adviser by Deal Flow and secured the second position by Deal Value, further reinforcing its leadership in the advisory space. The bank’s achievements speak to its strategic acumen and ability to deliver results-driven solutions that create long-term value for clients and stakeholders.
RMB was also nominated for Deal of the Year for its advisory role to Chappal Energies in the acquisition of Equinor’s Nigerian business. The landmark transaction, a major development in Nigeria’s energy sector, highlighted RMB’s depth of industry knowledge and capacity to structure complex deals.
The bank provided a comprehensive solution that included not just advisory services but also an underwritten acquisition funding package, ensuring a credible bid with guaranteed funding.
Bayo Ajayi, chief executive officer of RMB Nigeria, expressed pride in the bank’s achievements. “We are deeply honoured to receive the award for Private Equity Deal of the Year 2024 and the recognition as top M&A financial advisers by Deal Flow and Deal Value in DealMakers West Africa’s 2024 issue,” he said.
“These accolades are a testament to the strength and depth of RMB’s advisory platform and our unwavering commitment to delivering value-driven solutions for our clients. We are proud of the role we continue to play in unlocking investment opportunities that drive growth across Africa.”
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Echoing this sentiment, Chidi Iwuchukwu, executive director and head of investment banking at RMB Nigeria and RMB Broader Africa, noted the significance of the bank’s trusted role in major transactions.
“We are thrilled to have been trusted by our clients to advise on some of the region’s most strategic transactions. From private equity exits to large-scale energy acquisitions, these achievements highlight the technical competence, collaborative spirit, and deep market insight of our advisory franchise,” he said.
The DealMakers AFRICA Annual Awards, launched in 2000, celebrate excellence in corporate transactions across West Africa. Award decisions are primarily based on objective criteria, including the number and value of transactions, as well as the complexity, transformational impact, and potential value creation of nominated deals.
