NEW
YORK, Oct. 10, 2024 /PRNewswire/ -- BGC Group,
Inc. (Nasdaq: BGC), a leading global brokerage and financial
technology company, today announced it recently acquired Sage
Energy Partners, LP ("Sage"), an energy and environmental brokerage
firm. This acquisition will expand BGC's energy brokerage services
in the U.S. and support BGC's global growth efforts across its
Energy, Commodities, and Shipping ("ECS") business.
The firm's ECS business has rapidly become the firm's second
largest global asset class. With this acquisition, the firm expands
its offering in oil and refined products and bolsters its position
in environmental and energy transition brokerage services. In
North America specifically, BGC's
coverage area will broaden to include biofuels and an array of
environmental products, through Sage's IVG Energy division, and
NGLs and petrochemicals, through Sage's Liquidity Partners
division. BGC expects this acquisition to be immediately
accretive.
"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," said
John Abularrage, Americas CEO and
Global Co-Head of Brokerage at BGC Group. "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."
"Sage has deep expertise in the rapidly evolving energy and
environmental markets," said Randall
Fenlon, Global Co-Head of ECS. "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."
Headquartered in Houston,
Texas, Sage specializes in refined products, biofuels,
ethanol, carbon emissions, renewables, NGLs and petrochemicals
brokerage services. The firm's clients include companies and
organizations from across the energy supply chain, including many
of the world's largest banks, hedge funds, oil & natural gas
producers, chemical companies, refineries, utilities and more.
About BGC Group, Inc.
BGC Group, Inc. (Nasdaq: BGC) is a leading global marketplace,
data, and financial technology services company for a broad range
of products, including fixed income, foreign exchange, energy,
commodities, shipping, equities, and now includes the FMX Futures
Exchange. BGC's clients are many of the world's largest banks,
broker-dealers, investment banks, trading firms, hedge funds,
governments, corporations, and investment firms.
BGC and leading global investment banks and market making firms
have partnered to create FMX, part of the BGC Group of companies,
which includes a U.S. interest rate futures exchange, spot foreign
exchange platform and the world's fastest growing U.S. cash
treasuries platform.
For more information about BGC, please visit www.bgcg.com.
Discussion of Forward-Looking Statements about
BGC
Statements in this document regarding BGC that are not
historical facts are "forward-looking statements" that involve
risks and uncertainties, which could cause actual results to differ
from those contained in the forward-looking statements. These
include statements about the Company's business, results, financial
position, liquidity and outlook, which may constitute
forward-looking statements and are subject to the risk that the
actual impact may differ, possibly materially, from what is
currently expected. Except as required by law, BGC undertakes no
obligation to update any forward-looking statements. For a
discussion of additional risks and uncertainties, which could cause
actual results to differ from those contained in the
forward-looking statements, see BGC's Securities and Exchange
Commission ("SEC") filings, including, but not limited to, the risk
factors and Special Note on Forward-Looking Information set forth
in these filings and any updates to such risk factors and Special
Note on Forward-Looking Information contained in subsequent reports
on Form 10-K, Form 10-Q or Form 8-K.
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SOURCE BGC Group, Inc.
