Xpansiv, the premier infrastructure provider for environmental markets, announced the completion of its acquisition of Evolution Markets Inc., a provider of transaction and advisory services in global carbon, renewable energy, and energy transition markets.
The combination of the two companies will expand Xpansiv’s service offerings and product development capabilities to help empower the energy transition. The acquisition will also enhance Evolution Markets’ client services through its integration with Xpansiv’s technology infrastructure, market, and data platforms.
“Evolution Markets and Xpansiv are two market leaders who share a common vision of paving the way forward to a successful energy transition using the power of global markets,” said Evan Ard, CEO, Evolution Markets. “As our clients manage risk in global energy and environmental markets, we are eager to leverage the capabilities of both organizations to improve overall client outcomes.”
“Sustainability is part of discussions in boardrooms and with investors. Robust technology, reliable data, and accessible spot markets are crucial to promote liquidity and scale growth in voluntary carbon trading and environmental commodities. Bank of America supports innovation in these evolving markets,” said Jim DeMare, President of Global Markets at Bank of America.
“The development of a robust and transparent infrastructure for environmental markets plays a key part in driving energy transition and broader decarbonization,” said Patrick Street, head of Goldman Sachs’ Global Markets Net Zero Solutions. “We support Xpansiv’s effort to develop market infrastructure and trade advisory services to deliver seamless environmental solutions to companies globally.”
“Evolution Markets brings a world-class team of professionals with the same level of focus and dedication to enabling the energy transition and delivering client successes that we strive for every day. We are excited to work with them and our clients to build the future of environmental markets,” said John Melby, CEO, Xpansiv. “Our disciplined acquisition strategy is made possible through the backing of top-tier strategic investors, who share our belief in the environmental markets’ important role addressing the climate crisis.”
Venable LLP acted as legal advisor to Xpansiv on the acquisition. 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.
Perella Weinberg Partners LP served as financial advisor, and Morrison & Foerster LLP and Clifford Chance LLP served as legal counsel to Xpansiv on the capital raise.
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