December 12, 2023 [Mabanaft]- Mabanaft GmbH & Co. KG, a leading independent and integrated energy company headquartered in Hamburg, announced today that it has signed an agreement to acquire 100% of the shares in WESTFA Energy GmbH, including all its subsidiaries and shareholdings, from Adeleon Familienholding GmbH, formerly WESTFA Holding GmbH. The deal is subject to necessary merger clearance authority approvals.
This strategic acquisition will further strengthen Mabanaft’s position in the energy market after closing, allowing the company to expand its product portfolio and enhance its ability to meet the growing demands of its customers.
Mabanaft offers its customers a broad and flexible range of products and proactively engages in the energy transition, offering both conventional and low carbon fuel solutions. The primary focus is on growing the end-customer business, especially in hard-to-electrify sectors, by leveraging its core strengths of sourcing, storing, handling and distributing liquid fuels.
Founded in 1946, WESTFA is a liquid gas distribution company based in Hagen, Germany, active in purchasing, logistics and distribution of LPG for heating and mobility purposes, serving both commercial and private customers. WESTFA’s strong position in the downstream LPG market in Germany, the Netherlands, Belgium, France, and Luxembourg is a great complement to Mabanaft’s existing business and will after closing align seamlessly with the company’s long-term growth strategy. By expanding our product range to include LPG, the acquisition will unlock new opportunities for Mabanaft and our customers after closing, making our energy solutions even more diversified, more reliable and increasingly more sustainable; the WESTFA services present a perfect fit to the Mabanaft customer portfolio in the heating and mobility sectors, enhancing its share and value especially in the supply chain for heating solutions.
“This acquisition will perfectly align with our strategic objectives. WESTFA is a well-positioned business with great access to end customers. Our focus, together with the WESTFA team, will be to continue serving the loyal customers and building on the existing relationships that WESTFA has developed over the years. We look forward to welcoming the WESTFA team onboard and working closely with them on the future success once the necessary approvals are obtained”, says Jon Perkins, CEO of Mabanaft.
Oliver Nehring, CEO of Adeleon Familienholding adds: “We are confident that Mabanaft, with its strong legacy and market presence, will be able to develop WESTFA further and pave the way for continued success throughout the energy transition.”
The transaction is expected to close in the second of quarter of 2024, subject to necessary merger clearance authority approvals. The terms of the agreement were not disclosed.
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