Marex Group Plc, the diversified global financial services platform, has announced the successful completion of its acquisition of Dropet, a Spanish biofuels company. This move enhances Marex’s portfolio of renewable products as it expands its global environmental products business. The acquisition aligns with Marex’s strategy to diversify its operations and strengthen earnings resilience.
Dropet provides execution services for both physical and paper biofuels products throughout Europe, Latin America, the Middle East, and Africa. With over 18 years of experience in physical ethanol and related biofuels, as well as exchange-traded ethanol products, Dropet also hosts a successful annual biofuels conference.
Acquiring Dropet gives Marex additional capabilities in physical biofuels products and a high-quality, experienced team. 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. Marex has a strong track-record of acquiring businesses and enabling them to grow.
Matthew Thistle, Marex’s Global Head of OTC Energy, stated, 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.”
Almudena Berrocal, CEO of Dropet said, “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.”
