S.Africa's Peregrine to acquire stake in Java Capital - CNBC Africa

S.Africa's Peregrine to acquire stake in Java Capital

Southern Africa

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Java Capital provides financial and legal advisory services. PHOTO: Getty Images

The asset management, wealth management and broking and structuring solutions provider stated that the acquisition will form part of its strategy to expand its footprint within the financial services industry.

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“This acquisition allows us to bring into the group another industry leading business with an excellent reputation, superb skills, and a well-regarded brand,” said [DATA PGR:Peregrine] chief executive Jonathan Hertz.

“In addition to this it gives Peregrine a chance to participate in the listed corporate space currently not accessed by the group.”

Java Capital, which provides financial, commercial and legal advisory and transaction execution services, competes directly for mandates against local and international banks and provides corporate finance services in the listed property sector as well.

Kevin Joselowitz, executive director of Java Capital, said, “We have been exploring avenues to add to the services we offer, without detracting from our core corporate finance, advisory and JSE sponsor services.”

“[The] key for us is not only that the partnership would give us access to expertise and infrastructure but also that the partnership be consistent with our owner-managed and entrepreneurial culture,” he said.

Peregrine added that an entrepreneurial philosophy is key and that this has contributed to the group’s growth over the years.

(READ MORE: Peregrine produces strong FY results)

“The group’s independence played a pivotal role in this transaction as it allows Java Capital to conduct its business without any conflict of interest,” said Hertz.

“We are thrilled to have Java Capital on board and we look forward to the contribution they will bring to and receive from our various subsidiaries.”