Xpansiv, a market-infrastructure platform for environmental commodities, is to acquire Evolution Markets, a brokerage firm in global carbon, renewable, and energy markets.

Xpansiv, a market-infrastructure platform for environmental commodities, is to acquire Evolution Markets, a brokerage firm in global carbon, renewable, and energy markets.

The combined entity will benefit from Evolution Markets’ base of more than 2,000 customers, including many of the world’s largest energy firms, corporations, utilities, and financial institutions.

The acquisition is expected to be completed before the end of the year, upon receipt of regulatory approvals and satisfaction of customary closing conditions. Following deal close, Evolution Markets will be operated as a wholly owned subsidiary. The recent Blackstone strategic investment in Xpansiv will support the purchase.

Evolution Markets was advised in the transaction by JMP Securities, a Citizens Company, which acted as the sole financial advisor, and Stroock & Stroock & Lavan LLP which served as legal advisor. Venable LLP acted as legal advisor to Xpansiv.