Transaction

Clearwater advises Adeleon on the sale of WESTFA Energy to Mabanaft

Transaction

Adeleon sold WESTFA Energy to Mabanaft

Sell-side

Undisclosed

Role

Adviser to Adeleon on the sale of WESTFA Energy to Mabanaft

Sector

Energy & Utilities

Region

Germany

Clearwater has advised Adeleon Familienholding GmbH (Adeleon), formerly WESTFA Holding GmbH, a German family holding company focusing on businesses in the energy, healthcare, real estate and consumer sectors, on the sale of 100% of the share capital in WESTFA Energy GmbH (WESTFA), one of the leading suppliers of liquefied petroleum gas, to Mabanaft GmbH & Co. KG (Mabanaft), a leading independent and integrated energy company. This transaction will come into effect starting from January 1st 2024 and is subject to the approval of the European competition authorities.

Founded in 1946, WESTFA is a liquid gas distribution company based in Hagen, Germany. As a specialist for liquid gas, the family business supplies private households as well as businesses and industries with LPG using its own trucks in regional sales units in Germany, the Netherlands, Belgium, Luxembourg, and France. WESTFA is also a major provider of Autogas in Germany and Benelux. The business philosophy "Energy for life" is based on a strong commitment to sustainability, providing environmentally friendly and clean energy.

Emerging from the esteemed 77-year legacy of WESTFA Holding GmbH, Adeleon champions family values, innovation, and trust. The company specialises in acquiring businesses that embrace sustainable practices, cutting-edge technologies, and continuous innovation, operating in energy, healthcare, real estate, food, water, and sanitation industries. Adeleon’s focus is on promoting healthy growth while ensuring a clean, secure environment for everyone.

The Mabanaft Group, headquartered in Hamburg, Germany, is a leading independent and integrated energy company providing its customers with innovative energy solutions for their transportation, heating, industrial, and agricultural needs. The group is active in import, distribution, and marketing of petroleum products, natural gas liquids, chemicals, and biofuels, and supports its customers’ transition to cleaner fuels by providing alternative long-term solutions. Mabanaft proactively engages in the energy transition, offering both conventional and low carbon fuel solutions. The primary focus is on growing the end-customer business, especially in hard-to-electrify sectors, by leveraging its core strengths of sourcing, storing, handling, and distributing liquid fuels.

WESTFA’s strong position in the downstream LPG market in Germany, the Netherlands, Belgium, France, and Luxembourg is a great complement to Mabanaft’s existing business and will, after closing, align seamlessly with the company’s long-term growth strategy. By expanding the product range to include LPG, the acquisition will unlock new opportunities for Mabanaft; the WESTFA services present a perfect fit to the Mabanaft customer portfolio in the heating and mobility sectors, allowing the company to expand its product portfolio and enhance its ability to meet the growing demands of its customers. WESTFA will remain an independent company under the new shareholder and will continue with the same management team.

WESTFA Fluessiggas Tank weiss

We are confident that Mabanaft, with its strong legacy and market presence, will be able to develop WESTFA further and pave the way for continued success throughout the energy transition. Having Clearwater as an adviser in this transaction was truly invaluable as they know the market well and the team, combined with their deal-making expertise, added real value before and during the process.

Oliver Nehring, CEO, Adeleon Familienholding
WESTFA Fluessiggas Tank weiss

This acquisition will perfectly align with our strategic objectives. WESTFA is a well-positioned business with great access to end customers. Our focus, together with the WESTFA team, will be to continue serving the loyal customers and building on the existing relationships that WESTFA has developed over the years. We look forward to welcoming the WESTFA team onboard and working closely with them on the future success once the necessary approvals are obtained.

Jon Perkins, CEO, Mabanaft

It was a great pleasure to work with Adeleon on this transaction. Mabanaft prevailed in a multi-stage process, and we see a perfect match for WESTFA. In a world that is increasingly striving for sustainability, we expect the business to further grow with Mabanaft’s support.

Bertolt Mueller, Managing Director, Clearwater

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