Mabanaft GmbH & Co. KG, an independent energy company, has announced its continued investment in the end-customer business by acquiring the remaining shares in five Petronord Group companies. The acquired companies are Hempelmann Wittemöller, Keck Energieservice, Lipps Energie, Staack Pooltankstellen, and Uhlenbruck Energie.
This acquisition is part of Mabanaft’s strategy to reorganise its end-consumer business, which now consists of three units: Bulk, Energy Distribution, and Retail. The Petronord Group, which previously formed a significant part of Mabanaft’s end-customer business, will now be split into two areas: Commercial Road Transport and ED.
The CRT business will include the automated truck service stations within the tankpool24 network in Germany and will become part of the Retail unit. The remaining end-customer businesses in Germany, Austria, and Sweden will be part of the ED unit.
The integration of the five Petronord Group companies is a significant step for Mabanaft as it aims to develop and strengthen its end-customer business in both the CRT and ED areas. By integrating these businesses, Mabanaft will be able to leverage group synergies and expand its offerings to customers in these segments.
Mabanaft is committed to actively participating in the energy transition and provides its customers with a wide range of energy products, including both conventional and innovative low-carbon fuel solutions. The company expects a stable and high demand for liquid fuels throughout the energy transition, as alternative fuels will remain essential in the medium and long term.
The acquisition of the remaining shares in the Petronord Group companies aligns with Mabanaft’s strategy of creating a fully owned platform to strengthen its market position and support customers in decarbonising their operations. The company aims to offer high-quality liquid fuels to customers, whether conventional or low-carbon, to meet their evolving needs.
The structure of the integrated businesses will be further defined in the coming months, with plans for the go-live of the new structure in early 2024. The transaction involving Hempelmann Wittemöller is subject to necessary authority approvals. The financial terms of the agreements were not disclosed.
Mabanaft GmbH & Co. KG is a leading independent and integrated energy company that provides innovative energy solutions for transportation, heating, industrial, and agricultural needs. The company is involved in the import, distribution, and marketing of petroleum products, natural gas liquids, chemicals, and biofuels. Mabanaft supports its customers’ transition to cleaner fuels by offering alternative long-term solutions.
Petronord GmbH & Co. KG is a subsidiary of the Mabanaft Group and operates retail companies in Germany, Austria, and Sweden. The company is involved in the heating oil and diesel end-consumer business, lubricants distribution, operation of service stations for commercial trucking fleets, and trading of bitumen, wood pellets, natural gas, and electricity.
For more information visit www.mabanaft.com/en/
