Traxys’ management will increase its ownership stake. Financial terms were not disclosed. The transaction is expected to close in May 2023 following receipt of regulatory and other approvals.

“The increasing demand for raw materials to address the global energy transition serve the booming Electric Vehicle and Battery Storage markets and meet the needs of a growing global middle class coupled with structural underinvestment in raw material production markets underpin the opportunities for Traxys,” said Mark Kristoff, Chief Executive Officer of Traxys. “We believe that combining Traxys’ in-depth knowledge of the raw materials markets with Optiver’s financial strength and expertise in financial derivatives trading will enable us to better serve our customers and suppliers with new solutions to secure their supply and optimize price exposure in our key markets.”

“We’re delighted to welcome our new investors and partners. The new ownership structure uniquely balances the interests of management, employee stakeholders, and strategic and financial investors. This transaction bolsters Traxys’ global leadership position in the energy transition metals supply chain. I’m confident this new organization will enhance Traxys’ technology and battery materials franchise around the world and help accelerate the transition to a clean energy future,” said Alan Docter, Chairman of Traxys. “Traxys appreciates the contributions of Carlyle and Bacon who have supported our growth from USD 5.5 to 10 billion in revenues since the onset of our partnership in 2014. They have been valued partners and friends.”

“We’re pleased to become an investor in Traxys, a global commodities trading firm playing a critical role in the renewable energy transition,” said Jan Boomaars, CEO of Optiver. “As a leading liquidity provider, Optiver has long leveraged our knowledge and expertise to help improve financial markets. With commodities playing an increasingly important role for many investors, we look forward to applying our principles and know-how to bring greater efficiency to the physical commodities markets.”

ING and Ducera Partners acted as financial advisors to Traxys. Jones Day acted as legal advisor to CoLift, Clifford Chance for Optiver, and Fasken Martineau DuMoulin LLP for Regent Mercantile Holdings. Wachtell, Lipton, Rosen & Katz served as legal advisor to Carlyle.