Investment firm JRJ Group has agreed to acquire a majority stake in MAREX Group Limited, a London-based provider of specialist trading services for commodity and financial markets.
Funds affiliated with the current majority shareholder, Marathon Asset Management, will keep a minority stake in the business, as will MAREX management.
The new funds will allow MAREX to further enhance its position in the commodities brokerage industry.
Commenting on the deal, Mark Slade, CEO of MAREX, was reported to say: “This is a new era for MAREX. The partnership with JRJ represents a very positive development for MAREX’s clients and employees. The members of JRJ’s team possess a highly relevant skill set and have superb track records in building and managing complex financial services businesses. I’m excited about developing MAREX into a world-class financial institution with their expertise and support”.
The transaction is still subject to regulatory approval and expected to close in early 2010.