USTC has acquired 60% of CM Biomass, a major independent wood pellet trading company.
USTC, which has a long history in commodity trade, shipping, and logistics, acquired the stake of CM Biomass, a company within the Copenhagen Merchants Group. The remaining 40% will be held by the existing owners.
CM Biomass will form a new, separate entity in the USTC portfolio that already includes companies such as Bunker Holding, Uni-Tankers, and Unit IT.
Nina Østergaard Borris, owner and chief operating officer of USTC Group, said: “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.
“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.”
CM Biomass Partners was founded in 2009 in response to the EU’s increased demand for sustainable green energy solutions. The company has benefitted from its close connection to the CM Group, with many years of experience in commodity trading, shipping, warehousing, and wood pellet bagging.