Marex Group, a diversified global financial services platform, announced the completion of its acquisition of Dropet, a Spanish biofuels company. This acquisition expands Marex’s range of renewable products as it continues to grow its global environmental products business. This acquisition is aligned with Marex’s strategy to diversify its business and increase earnings resilience.
Dropet provides execution services for physical and paper biofuels products across Europe, Latin America, the Middle East and Africa. And it has over 18 years’ experience in physical ethanol and related biofuel products, as well as exchange-traded ethanol products. It also operates a successful annual biofuels conference.
Buying Dropet gives Marex additional capabilities in physical biofuels products and a high-quality, experienced team. And it is aligned with Marex’s strategy to increase the scale, diversification and global footprint of its environmental products offering as it seeks to be a leading provider of environmental commodities and support clients with the transition to a low carbon economy. And Marex has a strong track-record of acquiring businesses and enabling them to grow.
KEY QUOTES:
“By extending our geographic footprint, our product range, and our client base, we further diversify the firm and strengthen our resilience. The acquisition expands our global environmentals offering and is a good strategic fit with our existing biofuels business. Our OTC biofuels, carbon and shipping clients will benefit from our expanded physical biofuels products as well as from our increased exchange traded volume.”
“This acquisition also demonstrates that we are an attractive home for successful teams, who see Marex as a platform where they can grow their business.”
-Matthew Thistle, Marex’s Global Head of OTC Energy
“The Dropet team is excited to join the wider Marex team and benefit from the opportunities offered by its scale and global reach. Dropet’s clients will benefit from the additional services in renewables and other commodities and will continue to be serviced by the same dedicated and experienced team. We will continue to operate as Dropet, a division of Marex.”
-Almudena Berrocal, CEO of Dropet
