Specialist investment bank Ambrian Capital said Wednesday it had acquired Masefield Biofuels, which focuses on biodiesel produced from palm oil, from the Masefield Group. It did not reveal the price.
"The acquisition of Masefield's biofuels business is an important step in Ambrian's strategy to become a leading global supplier of physical commodities," said said Tom Gaffney, chief executive of Ambrian Capital.
Ambrian said it would invest $5 million of new capital into the new company, which would be called Ambrian Energy GmbH and be headed by Bernd Sturmheit who worked for Vattenfall and E.ON before joining Masefield in 2005.
The newly formed company would have a team of six traders and logistics managers based in Hamburg, and a representative office in Singapore.
It would lease 12,200 cubic meters of biodiesel storage tank capacity in Ghent, Belgium.
Masefield Biofuels was established in 2006. Last year it supplied 100,000mt of biodiesel to European customers with a total value of approximately $100 million.
"The acquisition of Masefield's biofuels business is an important step in Ambrian's strategy to become a leading global supplier of physical commodities," said said Tom Gaffney, chief executive of Ambrian Capital.
Ambrian said it would invest $5 million of new capital into the new company, which would be called Ambrian Energy GmbH and be headed by Bernd Sturmheit who worked for Vattenfall and E.ON before joining Masefield in 2005.
The newly formed company would have a team of six traders and logistics managers based in Hamburg, and a representative office in Singapore.
It would lease 12,200 cubic meters of biodiesel storage tank capacity in Ghent, Belgium.
Masefield Biofuels was established in 2006. Last year it supplied 100,000mt of biodiesel to European customers with a total value of approximately $100 million.
