12 May 2015, Monaco: Levmet S.A.M. (“Levmet”) Founder and President, Ashley Levett, announced today that he has acquired all of the shares in Levmet previously owned by Trasteel, the Lugano based steel and bulk commodities trading house. The transaction takes Mr. Levett’s shareholding in Levmet to over 95%.
The partnership between Mr. Levett and Trasteel successfully built a significant trading company in metals and bulk commodities over the past three years. However, given Levmet’s increased investment in non-ferrous markets, Trasteel has decided to focus more on its core ferrous activities. This transaction will enable Levmet to concentrate on developing its trading and investment capabilities and on delivering competitively priced liquidity to LME members.
Mr. Levett said “The Company has enjoyed significant growth in non-ferrous and bulk commodity markets. Given our strong performance in 2014, it presented shareholders with the opportunity to realise material gains on investment”.
Levmet and Trasteel will continue to work on a number of strategic projects, including structured physical ferrous deals, building on the financial success both companies have enjoyed together in the last few years.
Following this acquisition, Levmet will shortly begin the process of raising additional capital to fund expansion with new offices opening in Dubai and London in the coming months. Levmet will also increase its futures and physical trading capabilities and further develop its investment interests when value opportunities arise.
Founded in 2012, Levmet has built an exceptional management team focused on proprietary & physical trading and investment.
Today, the Company has a diversified business, trading a wide spectrum of metals and hard commodities including copper, iron ore, coal, aluminium, zinc, nickel and other minor metals.
Through its core activities as a Liquidity Provider and Proprietary Trader, Levmet has quickly grown to trade on average over $200bn. of metal annually establishing itself as a top ten player on The London Metal Exchange.