Engelhart, an international commodity trading company founded in 2013, has completed the acquisition of Trailstone, a global energy and technology company, from Riverstone.
Owned by the same partner group that controls BTG Pactual, Engelhart trades power, gas, and oil but is also active in agricultural/soft commodities, freight, and the innovative area of ‘risk premia’.
Engelhart has acquired Trailstone from Riverstone LLC. Huw Jenkins will be the CEO of the new combined business. John Redpath will be the Deputy CEO.
Decarbonizing the world’s energy matrix
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.
“Shift from hydrocarbons to renewable energy is inevitable”
Huw Jenkins, CEO, Engelhart, said: “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 modeling 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, commented: “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.”
