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Investec PLC and Ltd said on Wednesday it has agreed to raise its stake in Capitalmind Group, a mergers & acquisition and corporate finance advisory group. The Sandton-based financial services company said its subsidiary Investec Bank PLC will increase its shareholding in Capitalmind to about 60%, with Capitalmind’s partners retaining the remaining 40%. The value of the transaction was not disclosed. Following completion of the deal, Capitalmind will trade as Capitalmind Investec. Investec Bank and Capitalmind first established an international advisory partnership in 2018. In 2021, Investec Bank bought 30% of Capitalmind. Over the 24 months to March 31, 2023, Capitalmind and the Investec Group have advised clients globally on over 230 transactions with a total value of over €25 billion. Of these, 150 transactions with a total value of €12 billion were in Europe. ‘In a single transaction, it provides us with a footprint across the major economies of Western Europe, significantly enhancing our ability to bring international solutions to our clients,’ said Investec Bank Chief Executive Ruth Leas of the Capitalmind deal. ‘The mid-market investment banking business has become ever more deeply international, and M&A advisory businesses therefore need to be increasingly globally integrated, and sector focused in order to develop and maintain a deep understanding of their clients’ businesses and needs, which in turn requires these teams to collaborate seamlessly under one strategy,’ said Ervin Schellenberg, Michel Degryck and Jan Willem Jonkman, managing partners of Capitalmind. In Johannesburg, Investec shares were down 0.7% at R 106.34 on Wednesday afternoon. In London, Investec shares were up 0.2% to 450.55 pence. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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