Spectron Group Ltd., a financial instruments brokerage with a large weather derivatives operation, has announced that they are to be sold to Marex Group Ltd. a leading independent futures broker for £95m ($156m).
“Imarex has continuously stated that it would be active in the ongoing industry consolidation and consider all options to the benefit of its shareholders. The sale of Spectron marks the conclusion of this process for the OTC segment. In the three years within the Imarex Group, Spectron has contributed significantly both to results and to the strategic development. We are confident that Marex will be a good owner for Spectron going forward”, says Chairman of the Board Christian Due of Imarex, Spectron Group’s parent company.
Roger Nagioff, CEO of Marex Financial, said: “The acquisition of Spectron is transformational for shareholders, clients and employees of both firms. It’s a highly complementary combination given Marex’s longstanding expertise in exchange-traded derivatives and Spectron’s market-leading execution capabilities in a broad range of OTC derivatives. Spectron has a great management team and a long and successful track record in operating the largest independent global OTC marketplaces for gas, power and other asset classes.”
More details can be found here in this press release on the Spectron Group website.