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BJM
BJM
BJM in strategic Corporate Finance acquisition
BARNARD JACOBS MELLET HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1995/004798/06)
JSE code: BJM
ISIN: ZAE000014262
("BJM")
BJM IN STRATEGIC CORPORATE FINANCE ACQUISITION
Barnard Jacobs Mellet Holdings Limited (BJM), the JSE listed company housing
South Africa"s largest independent stock broking business, has acquired 100% of
the issued share capital of corporate finance advisory house Quaestor Capital
(Pty) Ltd for an undisclosed sum.
According to BJM group CEO Kevin Jacobs, the deal allows BJM to leverage off its
existing JSE Sponsor client base, research capabilities and domestic and global
distribution network to provide a fully fledged corporate finance service to
current and future clients. It also allows the BJM group to extend its services
to offshore clients through its US and UK offices and increase the global reach
of the group.
Cobus Human, the current owner and managing director of Quaestor Capital, will
become CEO of BJM Corporate Finance and the full staff complement of Quaestor
Capital will transfer to BJM Corporate Finance, where it will merge with the
existing BJM JSE Sponsor team.
"We are very excited about the opportunities this transaction will introduce to
the BJM group, both externally and to have in-house corporate finance expertise
available to our other subsidiaries," says Jacobs. "It has been a stated
objective of the BJM group to establish a significant presence in the corporate
finance advisory market. This transaction allows us to gain an immediate
foothold in that market with a well established corporate finance team.
Quaestor Capital is proven as a sustainable corporate finance advisory house and
we are pleased to acquire this business, whilst ensuring that the existing team
at Quaestor Capital remains intact after implementing the transaction."
Founded by Human in early 2000 as an independent corporate finance advisory
house, Quaestor Capital soon developed a fully fledged corporate finance service
offering. According to Human, the approach by BJM was unexpected, but was a
welcome surprise as it soon became clear that the business cultures of the two
organisations fitted well and that Quaestor Capital"s existing service offering
and approach would be well suited to BJM"s target market. Human says: "We
believe BJM provides an excellent platform and that the team at BJM Corporate
Finance will utilise these opportunities fully, as well as continuing to service
Quaestor Capital"s existing clientele with a wider service offering at BJM. We
are very pleased to become part of the BJM Group."
The transaction is unconditional and the effective date is 1 January 2007.
Quaestor Capital"s team will move to BJM"s corporate head office in Rosebank,
Johannesburg and the business will be fully integrated with BJM by early
February 2007.
-Ends-
Date: 27/11/2006 02:17:03 PM Produced by the JSE SENS Department
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