Rovco, Vaarst unite under new name
Sep 16, 2024 15:10 CESTGlobal commodity trading company Engelhart Commodities Trading Partners has agreed to acquire Trailstone, a global energy trader and provider of renewable energy management services, from private equity fund Riverstone LLC.
The acquisition, announced today, is subject to regulatory approval and is expected to be completed in the third quarter of 2024. Financial details were not provided.
Trailstone is described as operating at the intersection of renewable and conventional power. Its activities include providing risk management and optimisation services to owners and operators of renewable power generation assets, as well as trading power, natural gas and environmental products across North America, Europe and Asia.
For Engelhart, the purchase is part of its strategy to beef up its global power and gas trading platform and technology capabilities. It aims to create value by participating in 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,” stated Engelhart CEO Huw Jenkins.
“The access to permanent capital, and the complementary nature of our two organisations means we can grow our renewables and power and natural gas businesses and create even more value as part of the clean energy transition,” said Trailstone CEO John Redpath.
Rovco, Vaarst unite under new name
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