Photo by: Bloomberg
Financial services provider Investec has acquired the remaining 51.5% stake it did not already own in import and trade financing solutions provider Blue Strata group.
The buyout became unconditional on June 19.
Blue Strata cofounder and CEO Adam Orlin said the transaction allowed the group to grow its business substantially by leveraging Investec’s client base, balance sheet and expertise in complementary areas such as credit management and foreign exchange.
“Investec and Blue Strata have had a very fruitful partnership over the past 13 years since Blue Strata’s founding in 2002. As import regulations and complexities increase, the full integration of the remaining 51.5% into Investec offers Blue Strata the opportunity to unlock substantial benefits, as well as accelerate its growth trajectory,” commented Investec CEO Stephen Koseff.
Investec head of corporate and institutional banking Richard Wainwright added that the transaction was in line with Investec’s strategy of offering value-adding, differentiated services to its clients.
He further noted that Blue Strata offered a “compelling proposition” by simplifying the import process.