FD acquires South African IR agency

JOHANNESBURG: Financial Dynamics has acquired South African media and IR shop Beachhead Media and Investor Relations.

FD International has taken a 74 per cent stake in the Johannesburg and Cape Town-based firm. Beachhead's 'black economic empowerment staff trust' has taken the remainder.

The trust is part of Beachhead's efforts to encourage the employment of black staff and development of their careers.

The deal is a boon for Beachhead co-founders Bruce Hetherington  (CEO) and Jennifer Cohen (MD), who bought themselves out from Madi Sussens Herdbuoys five years ago.

They have sold their stakes in the business but are staying on at Beachhead.

The firm's main clients include actuaries Alexander Forbes, fund manager Investec and health insurance company Discovery.

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