East Africa’s notable company mergers and acquisitions and their advisers have been recognised at the DealMakers AFRICA Annual Gala Awards held in Lagos.
The awards ceremony, held at Ebony Life Place, also tracked the work carried out by the advisers in the mergers and acquisition and general corporate finance space during 2023.
The DealMakers AFRICA awards are based essentially on objective evidence – the value of deals or transactions and, the number of them. In only three of the awards is selection subjective and these are approached with considerable circumspection; they are the Deal of the Year, the Private Equity Deal of the Year and the Individual DealMaker of the Year. Nominations are received from the advisory firms for these subjective awards – the DealMakers AFRICA’s team produces a shortlist, and an eventual winner is decided on guided by the following criteria: Transformational elements, execution complexity, deal size and potential value creation. For the Individual DealMaker the deals worked on, the contribution made, the execution complexity and peer recognition are considered.
In the East Africa Deal of the Year category, DealMakers AFRICA shortlisted three deals. These were: The East Africa Device Assembly Kenya Joint Venture, the disposal of James Finlay Kenya to Browns Investments and the disposal by Bamburi Cement and Cementia of Hima Cement (Uganda).
The acquisition by Browns Investments of James Finlay Kenya was named Deal of the Year. The deal will support the next growth phase of the company while at the same time benefiting the local community and contributing to the overall Kenyan economy. The advisory firms to the deal were Bowmans and Addleshaw Goddard.
In the category of Private Equity Deal of the Year (East Africa), DealMakers AFRICA shortlisted three deals. These were: The exit by Maris and Nvision of a majority stake in Equator Energy to IBL Energy and STOA, the exit by Finnfund of its stake in Lake Turkana Wind Power to BlackRock and Ascent Capital Africa’s exit of its stake in Guardian Health.
The winner of the East Africa Private Equity Deal of the Year was Ascent Capital Africa’s exit of its Stake in Guardian Health. During its six-year investment Guardian Health has scaled from a footprint of five stores to a chain of 19 stores in six districts. Its new shareholder will boost its largely underdeveloped online and telemedicine service. Advisers to the winning transaction were I&M Burbidge Capital, Clyde & Co and Bowmans.
The following awards were made on the night to the top financial and legal advisers to the East African mergers and acquisition industry:
Mergers & Acquisitions
Financial Adviser by deal value
1st Deloitte & Touche Financial Advisory Services
2nd tie Canaccord Genuity Corp, CIBC Capital Markets
Financial Adviser by deal activity
1st PwC
2nd tie Standard Chartered Bank, Horizon Africa Capital and Verdant Capital
Legal Adviser by deal value
1st Anjarwalla & Khanna
2nd Bowmans
3rd tie Berhane Gila-Michael & Associates, Kebreab Habte Michael
Legal Adviser by deal flow
1st Bowmans
2nd Cliffe Dekker Hofmeyr
3rd Anjarwalla & Khanna
General Corporate Finance
Financial Adviser by transaction value
1st tie Absa Bank Uganda
2nd Citi
3rd Horizon Capital Africa
Financial Adviser by transaction activity
1st Horizon Capital Africa
2nd Absa Bank Uganda
Legal Adviser by transaction value
1st Katende Ssempebwa & Company Advocates
2nd tie Bowmans, Kaplan & Stratton
Legal Adviser by transaction flow
1st Anjarwalla & Khanna
2nd tie Katende Ssempebwa & Company Advocates, Cliffe Dekker Hofmeyr
The DealMakers Awards were launched in 2000 in South Africa and were introduced to the rest of the continent in 2008.
Meanwhile, the Managing Director of TSM Network, UK and Nigeria, and strategic partner for the DealMakers Africa Awards, Mr. Domini Ajayi, reiterated the organisation’s commitment to excellence in the finance sector.
“For us, the DealMarkers impact majorly within the financial space, management and acquisition, and top companies and individuals who are most involved in the biggest deals within Africa, South Africa, East Africa, and soon we are going to North Africa. And so West Africa too has been playing a global role, particularly Nigeria. So because this year we had so many majors and acquisitions and wealth management, you know, closing great deals. So Nigeria is going to feature so much tonight at the award.”
For more details about DealMakers Africa, contact us
Twin Studios Media Int’l (TSM Consulting & Event)
Email: sponsorship@tsmnetworkuk.com
Tel. +44 (0) 744 142 8496 +234 (0) 813 070 8359 +233 (0) 53 718 8995
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