Renaissance Africa Energy Triumphs in Prestigious DealMakers AFRICA Awards
Deal News | Apr 07, 2025 | EIN
The 2024 DealMakers AFRICA Annual Awards celebrated significant mergers and acquisitions within West Africa, highlighting the pivotal roles played by corporate and legal advisory firms. Transactions such as Olam Agri's acquisition of Avisen, the purchase of Equinor's Nigerian assets by Chappal Energies, Renaissance Africa Energy's acquisition of Shell Petroleum Development Company of Nigeria (SPDCN), and Excelsior Shipping's purchase of Flour Mills were prominent. Renaissance Africa's acquisition of SPDCN was awarded the West Africa Deal of the Year for consolidating Nigerian onshore energy assets to local players. CardinalStone Partners' exit from i-Fitness to Verod clinched the Private Equity Deal of the Year, emphasizing Verod's strategic backing of i-Fitness. Individuals, such as Daniel Adeoye of Verod, were also recognized for their expertise, with Adenia Partners' purchase of Air Liquide subsidiaries receiving a special accolade as well. Dominant advisory roles in deal value and activity were claimed by PwC Nigeria, Rand Merchant Bank Nigeria, Banwo & Ighodalo, and Olaniwun Ajayi, highlighting the evolution and complexity of the West African M&A landscape.
Sectors
- Mergers and Acquisitions
- Private Equity
- Legal Advisory
- Energy
Geography
- West Africa – The article focuses on mergers and acquisitions within the West African region, illustrating the regional M&A dynamics.
- Nigeria – Several significant transactions involve Nigerian companies, and Nigeria's strategic goal of localizing energy asset ownership is highlighted.
- Africa – While focusing on West Africa, the awards and recognitions have broader African implications with organizations participating continent-wide.
Industry
- Mergers and Acquisitions – The article centers around mergers and acquisitions that shape West Africa's economy, recognizing deals and advisory professionals.
- Private Equity – Private equity plays a critical role, with specific awards for private equity transactions that boost company growth through strategic financial backing.
- Legal Advisory – Legal firms are essential participants in these transactions, with notable advisories highlighted for deal facilitation.
- Energy – Energy sector deals like Renaissance Africa Energy's acquisition of Shell PDNC are central to the awards, reflecting industry-specific strategic movements.
Financials
- 30 million – Investment by Adenia Partners to strengthen and expand newly formed entity Erium over the next five years.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Renaissance Africa Energy | Bidding Company | Company | A consortium of Nigerian companies that acquired Shell Petroleum Development Company of Nigeria. |
| CardinalStone Partners | Selling Company | Company | Exited i-Fitness to Verod in a strategic private equity deal. |
| Verod | Bidding Company | Company | Acquired i-Fitness from CardinalStone Partners. |
| Shell Petroleum Development Company of Nigeria | Selling Company | Company | Pivotal in a significant acquisition by Renaissance Africa Energy. |
| PwC Nigeria | Financial Advisor | Company | Top financial adviser by deal value in West Africa. |
| Banwo & Ighodalo | Legal Advisor | Company | Leading legal adviser in West African mergers and acquisitions. |
| Rand Merchant Bank Nigeria | Financial Advisor | Company | Shared top spot for financial advisory based on deal activity. |
| Daniel Adeoye | Individual DealMaker | Person | Recognized for executing significant transactions in the region. |