Just one day after completing the acquisition of commodity trading firm CSC Commodities UK Limited (CSC) from BGC European Holdings LP, London based global commodities broker Marex Spectron announced new acquisition plans. This time the target is the Irish energy broker Energy Broking Ireland Limited (EBI).
Upon completion, EBI will be part of Marex Spectron’s new Dublin entity, Marex Spectron Europe Limited. The deal is expected to complete in February.
Ian Lowitt, CEO of Marex Spectron, commented:
We are delighted to add Energy Broking Ireland to our energy business. We are growth orientated and keen to grow into adjacent spaces where we see good new opportunities. With EBI not only do we gain a quality team with exciting plans, we also expand our European coverage into the Irish gas and power markets.
Dermot O’Kane, EBI Director, added:
This is an exciting development for our business that will allow us to further expand our existing spot gas broking services. With the Irish energy market changing, there are new opportunities, so it is important to have the experience and strength of a global group to offer a broader range of products and services to both existing and new customers in Ireland.