UAE– Mubasher: Marex Group plc, a global financial services platform, has agreed to acquire Aarna Capital Limited to expand its operations in the Middle East.
the transaction aligns with the group’s growth strategy to widen its client base, diversify its operations, and increase earnings resilience, according to a press release.
Aarna Capital provides clearing, execution, and customised risk management solutions in energy, base, and ferrous metals. The Abu Dhabi-based entity also manages financial markets such as equities, fixed income, and FX.
The acquisition of Aarna Capital will enable Marex to leverage additional capabilities in a new location and access to around 180 local clients, which include institutional investors, family offices and corporate clients.
The transaction is expected to contribute around 5% of Marex Group’s profit after tax from the fiscal year (FY) ending on 31 December 2025 onwards. It is forecast to close in late 2024, subject to regulatory approval.
Ian Lowitt, CEO of Marex, commented: “This acquisition meets our strict financial criteria and is at an attractive valuation, representing three to four times expected profit after tax.”
“We also retain some firepower from the capital raised in our [initial public offering] IPO to support further growth investments, as we look to continue to expand and diversify our business,” Lowitt added.
Dmitry Nedvetsky, Senior Executive Officer at Aarna Capital, highlighted: “The Middle East represents an important growth market, and enables Marex to introduce new clients to its platform, increase the capabilities it can offer existing clients, and grow its global footprint.”
