Mabanaft Continues to Invest in the End-Customer Business and Acquires the Remaining Shares in Five Petronord Group Companies, to Create Platform for Further Growth
07.21.2023 By TankTerminals.com News - NEWS

July 21, 2023 [Mabanaft]- Mabanaft GmbH & Co. KG has entered into agreements for the buyout of the respective minority shareholders of the five companies Hempelmann Wittemöller, Keck Energieservice, Lipps Energie, Staack Pooltankstellen and Uhlenbruck Energie.

 

As announced at the end of 2022, the Mabanaft Group is reorganising its end-consumer business. The Group’s Marketing Business Unit now consists of three units, namely Bulk, Energy Distribution (ED) and Retail. As part of this, the Petronord Group, which includes a significant part of the Mabanaft Group’s end-customer business, will be split into two areas, Commercial Road Transport (CRT) and ED. The CRT business comprises the automated truck service stations that are part of the tankpool24 network in Germany. These activities will become part of the Retail unit. The remaining end-customer businesses in Germany, Austria, and Sweden will belong to the ED unit.

The full integration of the five companies is a significant step for Mabanaft to develop and strengthen its end-customer business in both the CRT and ED areas. The integration of the CRT business will allow Mabanaft to leverage group synergies and further strengthen and expand its end-customer business. The focus on this customer segment is right in line with the Mabanaft strategy, and the priority will be to continue serving these customers.

Mabanaft proactively engages in the energy transition and offers its customers a broad and flexible range of products, serving the conventional market, and at the same time, playing an active role in the field of innovative low carbon fuel solutions. In this area, alternative fuels will remain liquid also in the medium and long term. This means that Mabanaft expects stable and high customer demand for liquid fuels throughout the energy transition.

This step is in line with the Mabanaft Group strategy. “By creating a platform that is fully owned by us, we can further strengthen our position in the market and help our customers in this sector decarbonise, by offering them high-quality liquid fuels, be it conventional or innovative low-carbon fuels,” says Jon Perkins, CEO of Mabanaft.

Over the coming months, the structure will be further defined. Go-live is planned for the beginning of 2024. The Hempelmann Wittemöller transaction is subject to necessary authority approvals. The terms of the respective agreements were not disclosed.

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