USTC Acquires 60% Stake in CM Biomas
Photo courtesy USTC
Simon Rodian Christensen will remain as the CEO of CM Biomass. Photo courtesy USTC
USTC has acquired 60% of CM Biomass, the world’s largest independent wood pellet trading company, a move designed to consolidate USTC as a global force in shipping and trade.
USTC, which has a long history within commodity trade, shipping, and logistics, has acquired the stake of CM Biomass, a company in the
Copenhagen Merchants Group. The remaining 40% will be held by the existing owners, and the CM Biomass management team and the organization will remain unchanged with Simon Rodian Christensen as its CEO.
CM Biomass will form a new and separate entity in the USTC portfolio that already includes companies like Bunker Holding, SDK FREJA, Uni-Tankers, and Unit IT.
“I am very pleased to welcome CM Biomass to our Group. Since the company was founded, it has grown rapidly into a world leader within its industry," said Nina Østergaard Borris, owner and COO of USTC Group. "Not only will CM Biomass provide value to USTC’s portfolio of companies, but it will also add an exciting new sustainable angle to the trading and shipping industry as a natural extension of our ongoing activities. We see great potential in the synergies that CM Biomass will bring to our existing operation which we believe will help elevate the company to the next level,”
“I am very pleased to welcome CM Biomass to our Group. Since the company was founded, it has grown rapidly into a world leader within its industry," said Nina Østergaard Borris, owner and COO of USTC Group. Photo courtesy USTC
“We have been through a fantastic journey and are now looking into even more exciting opportunities globally. To fulfil our ambitions for CM Biomass we are pleased that we have found a perfect match with USTC and personally with Torben Østergaard Nielsen and Nina Østergaard Borris," said Simon Rodian Christensen, owner and CEO of CM Biomass. "A family and a company that have indeed been through a development from a regional to a truly global leader in a large industry and we see many parallels to our position and the biomass industry. With all the strength,
experience, and competencies from the USTC Group behind us, the future sure looks bright and exciting."
CM Biomass was founded in 2009 as part of Copenhagen Merchants (CM) Group, which was established as a brokerage company in 1977 by Torben Christensen. Other activities in the Copenhagen Merchants Group are not affected by the CM Biomass transaction. The transaction is subject to the formal approval of authorities and the value of the transaction will not be disclosed.
