Hartree acquires steel trader Metallia

Hartree Partners LP recently acquired steel trader Metallia U.S.A. LLC for an undisclosed amount, Hartree confirmed to AMM.

“Hartree is pleased to announce the addition of the Metallia team to its steel trading business,” Hartree managing director Jason Lemme said in an e-mailed statement Oct. 19. “Metallia has a 30-year history in international steel merchant trading.”

The value and exact date of the deal were not disclosed, but the transaction officially closed “in recent months,” Lemme said.

“We see this as a complementary addition to our existing St. Louis-based master coil distribution, inventory and risk-management business,” he added.

The acquisition also “reflects Hartree’s continued and growing commitment to the steel business.”

New York-based Hartree is a “global merchant commodities firm” that specializes in energy, according to its website. The company trades crude oil, natural gas, steel and base metals, among other products.

Fort Lee, N.J.-based Metallia trades flat-rolled steel products, long products, stainless steel and raw materials like pig iron and scrap, according to the company’s website.

Hartree is owned by its managing partners, senior staff and Oaktree Capital Management LP, according to its website, which does not break down the ownership split. Los Angeles-based Oaktree Capital managed $98 billion in assets as of June 2016.