Engelhart Grows Power, Gas Trading in Deal to Buy Trailstone
- Combination would create a large player in power trading
- Deal is expected to close in the third quarter of this year
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Engelhart Commodities Trading Partners has agreed to buy Trailstone in a deal that could create a big player in power trading as firms rush to participate in the volatile electricity markets that have become a key source of industry profits.
The purchase, from private equity group Riverstone, is subject to regulatory approval and expected to be completed in the third quarter, Engelhart said in a statement that didn’t give the terms or the price of the deal.