Engelhart Commodities Trading Partners Completes the Acquisition of Trailstone Group
August 26 2024 - 3:00AM
Business Wire
Engelhart Commodities Trading Partners, a global commodities
trading business, is delighted to announce the successful
completion of its acquisition of Trailstone, a global energy and
technology company, from Riverstone.
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 decarbonizing the world’s
energy matrix.
Trailstone is a global leader in providing risk management and
optimization services to the owners and operators of renewable
power generation assets. It uses its expertise, analytics, and
proprietary software to help manage the intermittency of renewable
power generation. Trailstone is also active in trading power,
natural gas, and environmental products across North America,
Europe, and Asia.
Trailstone has also built a successful physical natural gas
client business in North America and Mexico. This business provides
storage, transportation, and supply capabilities to serve its
customers' growing optimization and risk management
requirements.
The acquisition is a pivotal part of Engelhart’s strategic plan
to strengthen its global power and gas trading platform and
technological capabilities and generate value through active
participation in the clean energy transition.
Huw Jenkins, CEO, Engelhart, says:
“We are delighted to complete our acquisition of Trailstone,
which is the start of an exciting new chapter for our combined
business. By integrating our advanced quantitative modelling and
weather forecasting capabilities with Trailstone’s strong presence
in the renewable power and gas markets, we create a powerful force
for growing our trading activities across the commodities complex.
The shift from hydrocarbons to renewable energy is inevitable and
transformative, and this acquisition means we will be at the
vanguard of that transition.”
John Redpath, Deputy CEO, Engelhart, says:
“I want to thank our partners, investors, customers, and all the
employees at both Trailstone and Engelhart for their patience and
hard work in helping us close this deal. Our vision for the
combined business is to create the commodity merchant of the
future. Technology will be central to the energy transition, and by
integrating our trading expertise and risk management with
Engelhart’s capabilities, we are perfectly positioned to manage
renewable power generation and facilitate carbon reduction. This
merger represents an exciting milestone, and we are ready to build
our combined company together.”
FOR EDITORS
- Engelhart is an international commodity trading company founded
in 2013. It has ~ 170 staff across offices in London, Geneva,
Houston, Stamford, Singapore, Shanghai, and Beijing.
- Engelhart trades power, gas, and oil but is also active in
agricultural/soft commodities, freight, and the innovative area of
‘risk premia’.
- Engelhart is owned by the same partner group that controls BTG
Pactual, the largest investment bank in Latin America.
- Trailstone is a global energy and technology trading company
focusing on renewables.
- It was founded in 2013, and has ~275 staff across offices in
Europe, North America, and Japan, with its primary offices in
London, Austin, and Berlin.
- Engelhart has acquired Trailstone from Riverstone LLC, the
private equity fund that was their primary shareholder.
- Huw Jenkins will be the CEO of the new combined business; John
Redpath will be Deputy CEO.
- The new entity will be called “Engelhart” or “Engelhart
Commodities Trading Partners”.
- Latham & Watkins acted as legal advisers to Riverstone and
Trailstone.
- Skadden, Arps, Slate, Meagher & Flom acted as legal adviser
to Engelhart Commodities Trading Partners.
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