Apex acquires Efficient Group

Apex has acquired Efficient Group, the holding company of Boutique Collective Investments (BCI) and Boutique Investment Partners (BIP).

BCI provides management company services with a particular focus on third-party branded portfolios.

BIP is an independent investment management and consulting firm. It provides multi-manager and consulting services to South African independent financial advisers and their retail and institutional clients.

The acquisition enables Efficient to access Apex’s digital and fund solutions. Meanwhile, Apex will welcome 44 Efficient employees in the hope of expanding its exposure to African markets.

Heiko Weidhase, chief executive officer of Efficient Group, stated: “Efficient has always followed a very successful growth strategy in the wealth, risk and investments segment of the financial services market, ensuring that the company has expanded into a leader in the financial services industry. This transaction allows the company to continue expanding the business by focusing on partners that align with the overall expansion of the retail client base strategy and value proposition.”

The acquisition is subject to approval by the Competition Commission.

Efficient’s wealth, risk and investment clients will retain the Efficient brand and will not be impacted by the acquisition. The group will be rebranded under the Apex Group banner.

On the transaction, Macquarie Capital acted as financial adviser to Apex. Efficient’s management team was advised by Cliffe Dekker Hofmeyr and facilitated the acquisition on behalf of its shareholders.