April 09, 2024 [Storage Terminal Magazine]- Mabanaft GmbH & Co. KG, a leading independent and integrated energy company headquartered in Hamburg, announced today that it has successfully completed the strategic acquisition of WESTFA Energy GmbH, including all its subsidiaries and shareholdings, following the earlier announcement of signing an agreement in December 2023 to purchase the business from Adeleon Familienholding GmbH, formerly WESTFA Holding GmbH.
Mabanaft is a trusted partner to its customers, providing efficient and reliable energy solutions that support their everyday lives, both now and in the future. This strategic acquisition further strengthens Mabanaft’s position in the energy market, allowing the company to expand its product portfolio and enhance its ability to meet the evolving demands of its customers.
By expanding the product range to include LPG, this strategic step aims to make the Mabanaft Group even more resilient and adaptable to the energy market dynamics, making its energy solutions even more diversified, more reliable and increasingly more sustainable, by being able to offer lower carbon pathways to more customers. Mabanaft sees continued opportunities in the heating and mobility markets, and this acquisition helps the company complete and further improve the current offer.
WESTFA is a liquid gas distribution company with close to 300 employees based in Hagen, Germany, active in purchasing, logistics and distribution of LPG for heating and mobility purposes, serving around 50,000 customers, both in the commercial and private sectors. WESTFA’s strong position in the downstream LPG market across Germany, the Netherlands, Belgium, France, and Luxembourg is a great complement to Mabanaft’s existing business and aligns seamlessly into the long-term growth strategy. The acquisition opens new opportunities for both companies, as WESTFA’s services fit perfectly with Mabanaft’s customer portfolio in the heating and mobility sectors.
“We are happy to welcome all WESTFA colleagues to the Mabanaft Group. WESTFA is a well-positioned business with great access to end customers. The combination of Mabanaft and WESTFA allows us to strengthen our market position and expand our footprint in Northwest Europe”, says Jon Perkins, CEO of Mabanaft. “Our focus, together with the WESTFA team, is to continue serving the loyal customers and building on the existing relationships that WESTFA has developed over the years. The energy transition offers great opportunities for all of us, especially when leveraging and combining our forces and experience. Together we can develop a path to more sustainable energy solutions for all our customers”, he continues.
Mabanaft looks forward to maximising the synergies generated by this acquisition and remains steadfast in its commitment to driving innovation, sustainability, and customer satisfaction across all its operations.
Free Trial: Access 13,300 Tank Terminal and Production Facilities
13,300 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data
