Xpansiv, a San Francisco, California-based market-infrastructure platform for environmental commodities, is to acquire Evolution Markets, a White Plains, NY-based brokerage firm in global carbon, renewable, and energy markets.
The amount of the deal was not disclosed.
The combined entity will benefit from Evolution Markets’ base of more than 2,000 customers, including many of the world’s largest energy firms, corporations, utilities, and financial institutions. The acquisition is expected to be completed before the end of the year, upon receipt of regulatory approvals and satisfaction of customary closing conditions. Following deal close, Evolution Markets will be operated as a wholly owned subsidiary. The recent Blackstone strategic investment in Xpansiv will support the purchase.
Led by CEO Evan Ard and Co-Founder and Executive Chairman Andrew Ertel, Evolution Markets provides strategic financial and industry-leading transactional services to participants in global environmental and energy markets. Formed in 2000, the company has become the green markets leader, leveraging its unrivaled experience and knowledge on behalf of participants in the global carbon, emissions, renewable energy, and over the counter (OTC) power, natural gas, oil, nuclear fuel, and biofuels markets. Based in White Plains, NY, Evolution Markets serves clients on six continents from offices in New York, Houston, London, and Nice.
Led by CEO Joe Madden, Xpansiv provides the market infrastructure and data platform for carbon, renewable, and digital energy commodities. These Intelligent Commodities bring transparency and liquidity to markets, empowering participants to value energy, carbon, and water to meet the challenges of an information-rich, resource-constrained world. The company’s main business units include CBL, a large spot exchange for environmental commodities, including carbon, renewable energy certificates, and Digital Natural Gas; H2OX, a spot exchange for water; XSignals, which provides end-of-day and historical market data; EMA, a multi-registry portfolio management system for all environmental commodities; and APX, a provider of registry infrastructure for energy and environmental markets.
FinSMEs
08/08/2022