Global commodity trading company Engelhart Commodities Trading Partners has announced its agreement to acquire Trailstone, a global energy trader and provider of renewable energy management services, from private equity fund Riverstone LLC.
The acquisition, disclosed today, remains subject to regulatory approval and is anticipated to be finalized in the third quarter of 2024. Financial terms of the transaction were not disclosed.
Trailstone is recognized for its operations bridging renewable and conventional power sectors, offering risk management and optimization services to owners and operators of renewable power generation assets. Additionally, the company engages in trading power, natural gas, and environmental products across North America, Europe, and Asia.
For Engelhart, the acquisition aligns with its strategy to bolster its global power and gas trading platform and enhance its technological capabilities. The move reflects Engelhart's commitment to creating value by actively participating in the clean energy transition.
Engelhart CEO Huw Jenkins underscored the significance of the acquisition, stating, “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.”
Trailstone CEO John Redpath emphasized the potential synergies between the two entities, stating, “The access to permanent capital, and the complementary nature of our two organizations means we can grow our renewables and power and natural gas businesses and create even more value as part of the clean energy transition.”
