Marex Spectron completed another acquisition. This time it was for a London-based Tangent Trading Ltd (‘Tangent Trading’). Tangent Trading is a leading scrap metals trading firm which can trade its roots back to 1985.
Tangent Trading specialises in non-ferrous scrap metals trading, with a focus on copper and aluminium markets. A long-term member of the London Metal Exchange, Tangent Trading has an international network of customers and suppliers across Asia, Europe and North America.
Tangent Trading will continue under the leadership of Darren Leigh and Robert Borland, who join Marex Spectron’s global metals franchise, which boasts one of the most experienced teams and broadest product ranges across base, precious and ferrous metals worldwide.
Ian Lowitt, Marex Spectron Chief Executive, commented: “The scrap metal market is a new and exciting direction for our business as we continue to invest in and grow our market-leading metals franchise. This acquisition is part of a strategy focusing on expanding our offerings and developing our business in sustainable commodity sectors. We believe the recycled metal markets are poised for growth as environmental sustainability becomes more important to clients. Given the scale of our global network and balance sheet, there are significant opportunities to further develop the Tangent Trading business – making it an excellent fit for Marex.”
Darren Leigh, CEO of Tangent Trading added: “We are excited to join the Marex Spectron family. Not only will we have access to new technologies and services, we will be in a great position to further enhance, strengthen and expand our global offering.”
Tangent Trading were assisted by Hawkins Hatton Corporate Lawyers who have worked with Tangent Trading for several years and have detailed knowledge of their background and operating model. Colin Rodrigues, Corporate Partner of HH said “as with any deal, time is the biggest enemy and there was a lot of ground to cover in a very short period of time, yet this was achieved as there was a true meeting of the minds between the parties”.
David Price, Director of Price Pearson Accountants commented: “it has been a pleasure to work with Tangent Trading from the outset. Price Pearson have a long history with Tangent Trading and have a special affinity for them. We are delighted to help achieve the shareholders goals of continued growth and expansion through this acquisition by Marex Spectron.