The United Shipping and Trading Company (USTC) has strengthened its presence in the global biomass sector by completing the acquisition of all remaining shares in CM Biomass, making it the sole owner of the company.
The move marks the conclusion of a multi-year investment strategy that began in 2021, when the family-owned Danish group first took a majority stake in CM Biomass, a leading international supplier of wood pellets and sustainable biofuels.
USTC increased its shareholding to 89 per cent in late 2024, and has now acquired the remaining 11 per cent to take full control.
USTC chief executive and co-owner Nina Østergaard Borris said the acquisition reinforces the group’s long-term strategy of diversifying into sustainable energy markets.
“When we first invested in CM Biomass, we recognised both its strong business potential and the synergies it could bring across the USTC Group. The partnership has exceeded expectations, and full ownership is a natural and positive step forward,” she said.
The final share transfer was part of the original agreement established when USTC became majority shareholder. At that time, Copenhagen Merchants Group (CMG) – the company’s founder and previous owner – retained a minority stake scheduled for sale by the end of 2025.
Simon Rodian Christensen, CEO of Copenhagen Merchants Group, said the sale represents the completion of a successful partnership.
“This marks the planned handover of full ownership to USTC. Since 2021, CM Biomass has gone from strength to strength, and I’m proud of what we’ve achieved together. The company is in excellent hands as it continues to grow under USTC’s leadership,” he said.
With operations spanning multiple continents, CM Biomass is one of the world’s largest independent biomass traders, supplying sustainable wood pellets and related products to energy producers and industrial clients.
USTC takes full ownership of CM Biomass
