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Responsabilità editoriale di Business Wire
Comunicato stampa - Responsabilità editoriale di Business Wire
Engelhart Commodities Trading Partners, a global commodities trading business, is delighted to announce that it has agreed terms to acquire Trailstone, a global energy and technology company, from Riverstone.
Completion of the acquisition, which remains subject to regulatory approval, is expected to occur in Q3, 2024.
The deal is a significant event for both companies, as it represents a shared commitment to ensuring the success of the clean energy transition. The transaction not only strengthens their trading and technological capabilities, but also generates value through active support of a sustainable future.
Trailstone is a global leader in the provision of risk management and optimization services to the owners and operators of renewable power generation assets, by utilising its expertise, analytics and proprietary software. It is also active in trading power, natural gas and environmental products across North America, Europe and Asia.
The team at Trailstone has also built a successful physical natural gas client business in North America, which provides storage, transportation and supply capabilities to serve its customers' growing optimization and risk management requirements.
The acquisition will combine the resources and expertise of two successful businesses and enable them to leverage their joint capabilities to enhance trading performance, grow their customer business and play a leading role in decarbonising the world’s energy matrix.
The acquisition is a pivotal part of Engelhart’s strategic plan to strengthen its global power and gas trading platform and technology capabilities and generate value through active participation in the clean energy transition.
Huw Jenkins, Engelhart CEO, says the acquisition is a clear signal of Engelhart’s commitment to the clean energy transition:
“Agreeing terms to acquire Trailstone is an important event in Engelhart’s long term strategy to grow our energy trading platform and enhance our technological capability to play a leading role in the clean energy transition. We have been impressed by the Trailstone team’s innovation in the renewables trading sector and we believe the acquisition and merger will be highly complementary for both businesses.”
John Redpath, CEO, Trailstone, says he’s excited about the potential that this acquisition unlocks:
“The acquisition by Engelhart is a big moment for the future of Trailstone. The access to permanent capital, and the complementary nature of our two organizations means we can grow our renewables and power & natural gas businesses and create even more value as part of the clean energy transition. I am proud of what we've created at Trailstone over the last ten years, not because it was easy but because it was hard. I am even more positive and excited about the future as we move forward as one business. I've been in the energy markets for 35 years, and I think the most interesting years of my career are ahead as we build this combined business .”
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View source version on businesswire.com: https://www.businesswire.com/news/home/20240609840553/en/
For more information, contact: Cosmo Shield ( cosmo@cosmocreativecontent.co.uk )
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Comunicato stampa - Responsabilità editoriale di Business Wire
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