Transaction · Wealthtech · 2024

Manzil / Canadian Islamic Wealth 2024

Manzil acquired Canadian Islamic Wealth on November 25, 2024.

Target: Canadian Islamic Wealth
Acquirer: Manzil
Announced: November 25, 2024
Sub-sector: Wealthtech

Transaction overview

Manzil announced the acquisition of Canadian Islamic Wealth on November 25, 2024.

Strategic rationale

Manzil expands Halal wealth management offerings by acquiring Canadian Islamic Wealth's 300 clients and advisory team to launch integrated Sharia-compliant financial platform.

Deal terms & multiples

Deal value: Not disclosed
Target revenue: Not disclosed
Target EBITDA: Not disclosed
EV / Revenue: Not disclosed
EV / EBITDA: Not disclosed
Announcement: November 25, 2024
Acquirer: Manzil (Strategic)
Sub-sector: Wealthtech

Sources

betakit.com /manzil-launches-halal-wealth-management-solution-following-acquisition-of-canadian-islamic-wealth/

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