Rand Merchant Bank Nigeria Gets Dealmakers West Africa Award

Rand Merchant Bank Nigeria Limited (RMBN), has been recognised by DealMakers 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 one in Mergers & Acquisitions Financial Adviser by Deal Flow, and number two in Mergers & Acquisitions Financial Adviser by Deal Value.

Speaking on the recognition, Bayo Ajayi, Chief Executive Officer, RMB Nigeria said “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 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.