Marex Acquires Aarna Capital | Widening Client Base in Middle East

London-based commodities broker Marex is poised to strengthen its operations in the Middle East with the acquisition of Abu Dhabi‘s Aarna Capital Limited. The deal is part of Marex’s strategic efforts to broaden its client base, diversify services, and boost the resilience of its earnings, while expanding its clearing business in a rapidly growing market.

Aarna Capital, specializing in clearing, execution, and risk management services across key sectors such as energy, metals, and financial markets like equities, fixed income, and foreign exchange (FX), offers Marex an opportunity to further penetrate the region. The acquisition will provide Marex access to approximately 180 local clients, including institutional investors, family offices, and corporate clients, giving the company a stronger foothold in the region's diverse financial landscape.

This acquisition complements Marex‘s existing presence in the Middle East, where the company already has a 60-employee team in Dubai. The acquisition is expected to significantly enhance Marex’s profitability, contributing an estimated five percent of the firm's profit after tax by 2025. Marex also anticipates immediate synergies that will improve its bottom line from the outset.

Marex‘s CEO, Ian Lowitt, emphasized the strategic value of the Middle East as a growth market. He noted that the acquisition would establish Marex’s presence in Abu Dhabi and expand the company‘s client base and operational capabilities within the region. Lowitt highlighted the importance of the deal in growing Marex’s clearing business, which aligns with the companys broader strategy of connecting clients to global markets.

He also underlined that the transaction met the companys strict financial criteria, with the acquisition valued at an attractive three to four times expected profit after tax. Marex, having raised capital through its IPO, maintains the flexibility to support additional growth initiatives as it seeks further expansion and diversification.

The deal is expected to be finalized by late 2024, pending regulatory approvals, and marks a significant milestone in Marex‘s Middle Eastern growth trajectory. This acquisition is set to reinforce Marex’s competitive position in the region, enabling it to offer expanded services and attract new clients.

Looking ahead, Marex has filed with the U.S. Securities and Exchange Commission (SEC) for a potential debut on the New York Stock Exchange. The company reportedly targets a valuation between $2.2 billion and $2.8 billion, which would surpass its previous attempt to list on the London Stock Exchange in 2021.

Backed by private equity group JRJ, alongside partners Trilantic Europe and BXR Group, Marex has grown significantly over the past decade. The company, employing around 1,800 people, is one of only eight brokers authorized to trade on the London Metal Exchange, solidifying its status as a prominent player in global commodities trading.