Clarksons buys Link Group for $80m

Shipping services provider Clarksons said on Wednesday that it has bought Link Group, a North American physical crude and derivatives oil brokerage business and data provider, for $80m (£60.1m).

Clarksons said the deal represents "a significant step" in its strategy to enhance and grow its capabilities in physical commodities, derivatives and data. It also serves to expand the group’s presence in the Americas and deploy capital in line with the core strategy.

The Link Group assists clients in "seamless execution" of physical commodities and derivatives contracts, enabling them to execute physical deals and implement corresponding hedges in real time.

The business operates through Link Crude Resources, Link Futures and Link Data Services. It serves more than 300 clients, including oil producers, refiners and traders, and is recognised for its market-leading position and innovative data solutions, Clarksons said.

Clarksons chief executive Andi Case said: "This acquisition is a clear demonstration of our commitment to enhancing our investment in cargo and its journey while also expanding our presence in the Americas.

"The Link Group is the leader in its markets, and we are thrilled to add another best-in-class business to our group. The team at Link is highly talented and well-respected, and together we believe we can achieve significant growth synergies to our global business and widen our service to our clients."

At 1345 GMT, Clarksons shares were up 0.9% at 4,705p.

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