BGC Group Acquires OTC Global Holdings for $325 Million

BGC Group announced today that it has successfully completed the acquisition of OTC Global Holdings, LP, a rapidly growing energy and commodities brokerage firm, for $325 million in a nearly all-cash transaction.

This acquisition marks a significant milestone for BGC, further enhancing its capabilities and position as a leading global player in the energy, commodities, and shipping (ECS) brokerage sector. The integration of OTC’s product offerings is going to expand BGC’s global reach and drive even greater value for its clients and stakeholders.

BGC Group Acquires OTC Global Holdings for $325 Million

“This acquisition is a transformative step that solidifies BGC’s position as the world’s premier energy, commodities, and shipping broker,” said Sean Windeatt, Co-CEO of BGC Group. “By combining our expertise, talent, and resources across our global platform, we are poised to redefine the ECS landscape and deliver enhanced value to both clients and shareholders. We are excited to collaborate with our new OTC colleagues and build upon our shared success.”

Joe Kelly, CEO of OTC Global Holdings, expressed his enthusiasm about joining BGC, stating, “Aligning with BGC, known for its strong track record of growth and innovation, is a strategic and natural progression for us. We take great pride in the world-class organization we’ve built at OTC and look forward to furthering our growth and delivering unparalleled value to our clients in partnership with BGC.”

The acquisition also highlights the success of BGC’s ECS business, which is due to the leadership of Co-CEOs John Abularrage, JP Aubin, and Sean Windeatt. The acquisition follows BGC’s recent purchase of Sage Energy, further reinforcing ECS as the company’s largest asset class.

OTC Global Holdings generated over $400 million in revenues for 2024, with the acquisition representing a multiple of less than 0.8 times revenue. BGC expects the acquisition to be immediately accretive.

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