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BGC Group has acquired Houston-based Sage Energy Partners, LP, expanding its energy and environmental brokerage services in the U.S. market.
The acquisition, which BGC expects to be immediately accretive, strengthens the company's Energy, Commodities, and Shipping (ECS) division, now its second-largest global asset class. Through the deal, BGC gains Sage's capabilities in oil and refined products, as well as environmental and energy transition services.
The transaction adds biofuels and environmental products through Sage's IVG Energy division, alongside NGLs and petrochemicals via the Liquidity Partners division.
John Abularrage, Americas CEO and Global Co-Head of Brokerage at BGC Group, said: "Sage has built an impressive franchise that aligns seamlessly with our current client offering and enables us to become the world's first 'one-stop-shop' for environmental brokerage. This acquisition complements our existing portfolio and will enhance our capabilities in key growth sectors. We look forward to welcoming their talented team as we continue driving value for our clients."
Randall Fenlon, Global Co-Head of ECS, added: "Sage has deep expertise in the rapidly evolving energy and environmental markets. The U.S. is a key growth area for our ECS business, and the addition of Sage enables us to provide a truly comprehensive offering for our clients' needs."
Sage's client base includes banks, hedge funds, oil and natural gas producers, chemical companies, refineries, and utilities. Financial terms of the acquisition were not disclosed.
