International development company Crown Agents has agreed terms to sell two financial services businesses to Helios Investment Partners. The Africa-focused private equity firm is acquiring a 100% interest in Crown Agents Bank (CAB) and Crown Agents Investment Management (CAIM) for an undisclosed sum.
CAB and CAIM provide clients with specialist payment, cash management, trade, treasury and investment services, offering tailored solutions for governments, development organizations, donors, central banks, pension and investment fund managers and corporates operating in emerging and fragile markets. The businesses currently provide services in Africa, the Caribbean and South East Asia.
“Crown Agents’ financial services team is renowned for providing specialist financial solutions in emerging markets, principally Africa and the Caribbean…and we look forward to bringing our African knowledge and financial services expertise to bear in realizing the significant growth potential of these businesses,” said Tope Lawani, co-founder and Managing Partner of Helios. “We believe these are unique assets with a hard-to-replicate platform and a strong brand.”
Anurag Verma and Richard Monahan of Deloitte’s Financial institutions Group advised Crown Agents on the transaction.