United Shipping and Trading Company (USTC) has acquired the final 11% of shares in CM Biomass, becoming the sole owner of the global wood pellet and biomass supplier. This move concludes a multi-year ownership strategy that began with USTC’s majority acquisition in 2021, followed by an increase to 89% in autumn 2024, according to USTC.
CM Biomass was previously co-owned by Copenhagen Merchants Group, which retained a minority share under the original 2021 agreement. That final shareholding has now been transferred to USTC ahead of the originally planned 2025 deadline.
USTC CEO Nina Østergaard stated the company’s initial investment was based on strong synergies with CM Biomass and has since proven commercially sound. Copenhagen Merchants Group CEO Simon Rodian Christensen described the sale as a "natural next step," noting his satisfaction with the company’s development under USTC's leadership.
