Traders Greenwich Metals and Element Alpha Said to Pursue Merger

(Bloomberg) — Greenwich Metals Inc. and Element Alpha SA are finalizing talks over a merger that would give the commodity traders greater heft in key markets, according to people familiar with the matter.

The two privately owned companies have been discussing a combination that would bring together Greenwich’s metals expertise with Element Alpha’s energy traders, said the people, who asked not to be identified discussing private information.

The proposed combination comes after months of wild price swings in metals and natural gas markets. A merger would allow the firms to move larger volumes and better compete with the industry’s biggest trading houses, which benefit from wider banking relationships and greater leverage with suppliers and shippers.

Greenwich Metals was founded in 1991 with a focus on minor and nonferrous metals in North America. In 2018, the firm was bought out by investors led by several former Trafigura metals traders including Doug Pratt and Richard Fromme.

Geneva-based Element Alpha was founded in 2015 and specializes in both physical and derivative markets for energy. It’s owned by its employees including co-Chief Executives Gregor von la Valette and Nino Mendiburu.

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