Xpansiv acquires APX to empower markets to scale with efficiency

Xpansiv, the premier market-infrastructure platform for global carbon and environmental commodities, completed the acquisition of APX, a player in registry infrastructure for energy and environmental markets. The acquisition brings together two innovators with the technologies and capabilities to empower markets to scale with liquidity and efficiency.

What does the acquisition mean for Xpansiv?

Xpansiv connects buyers and sellers of environmental commodities and provides market data for voluntary carbon offsets, renewable energy credits (RECs), and low-carbon fuels—all critical elements of decarbonization. Xpansiv’s growing ecosystem supports firms seeking to meet environmental and emissions reduction goals. Xpansiv and APX are strategic partners, and Xpansiv exchange CBL is integrated with registries that operate on APX infrastructure.

In March 2022, Xpansiv acquired a 20% minority ownership interest in the infrastructure provider, APX. Earlier this month, Blackstone announced that funds managed by Blackstone Energy Partners (Blackstone) committed $400 million to lead a strategic investment in Xpansiv. Blackstone’s capital injection enabled Xpansiv to complete the APX acquisition.

What were the executives’ thoughts on the acquisition?

Commenting on on the deal, Xpansiv Chief Strategy Officer Nathan Rockliff said, “The APX addition enables integration across the environmental commodities lifecycle. From registry infrastructure to portfolio management, exchange, and market intelligence, we help firms efficiently meet their environmental commitments with the required scale and transparency.”

“Over the years partnering with Xpansiv, our firms have come to share a common vision for high-integrity, scalable market infrastructure. With our combined capabilities, we’re empowering the transition to clean energy and sustainability,” said APX CEO Joe Varnas.

“We’re pleased to increase our customer offerings in this space to include APX’s impressive registry tools and services. By expanding our already robust infrastructure, we’re giving market participants the innovative tools needed to scale, and the platform to support their ESG and climate goals,” said Xpansiv President and Chief Operating Officer, John Melby.

Perella Weinberg Partners LP is acting as exclusive financial adviser to Xpansiv, and Venable LLP is acting as its legal adviser. Goldman Sachs & Co. LLC is acting as exclusive financial adviser to APX, while DLA Piper is acting as its legal adviser on the transaction.