RMB Nigeria Awarded the DealMakers West Africa Award 2024 and Ranking Recognition
Rand Merchant Bank Nigeria Limited (RMB Nigeria), a leading corporate and investment bank has been recognized by DealMakers West Africa, for its lead advisory role in the exit of CardinalStone Partners from iFitness to Verod Capital Management. This transaction underscores RMB’s deep expertise in executing complex private equity exits and facilitating transformative transactions within West Africa’s evolving investment landscape.
In addition to this prestigious award, RMB Nigeria was also ranked:
- Number 1 Mergers & Acquisitions Financial Adviser by Deal Flow, and
- Number 2 Mergers & Acquisitions Financial Adviser by Deal Value
Further cementing its position as a leading African corporate and investment bank, RMB was also nominated for Deal of the Year for its advisory role to Chappal Energies on the acquisition of Equinor’s Nigerian business, a landmark energy transaction that reinforces RMB’s depth of sectoral knowledge and strategic execution capabilities. RMB Nigeria provided a holistic solution to the client by providing advisory services as well as underwritten acquisition funding package which enabled a credible bid backed by funding certainty.
Speaking on the recognition, Bayo Ajayi, Chief Executive Officer, RMB Nigeria stated: ‘’we are deeply honoured to receive the award on private equity deal of the year 2024 and the duo rankings recognitions as top mergers and acquisitions financial advisers by Deal Flow and by Deal Value in DealMakers West Africa’s 2024 issue. 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.’
Reflecting on the award and ranking recognitions, Chidi Iwuchukwu, RMB Nigeria Executive Director and Head of Investment Banking, RMB Nigeria and RMB Broader Africa said ‘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.’’
The DealMakers West Africa Annual Awards was launched in 2000 by DealMakers to recognize corporate entities performing exceptionally well in business deals and investments across West Africa. The awards are determined primarily by objective criteria, assessing the value and number of transactions recorded on three categories—Deal of the Year, Private Equity Deal of the Year, and Individual DealMaker of the year which are selected based on nominations from advisory firms. These are evaluated based on factors such as deal complexity, transformational impact, and potential value creation.
