Aarhus-based MFT Energy has failed in its efforts to sell the company. 

The owners of the five-year-old trader company has called off a sales process that was initiated earlier this year with the help of advisor FIH Partners, writes Danish business daily Børsen. 

”We went into this to investigate the market and to find out if there was a good match for us. If the right match was not there, we were not interested in selling,” says Bo Palmgren, CEO and co-owner of MFT Energy, in a written response to Børsen. 

MFT’s owners have previously considered listing the company on the stock exchange. But macroeconomic turmoil and large fluctuations in the stock markets have hindered their plans.

In May, MFT published financial statements showing a pre-tax profit of DKK 4.3bn (USD 610m). While several other energy trading companies have rewarded employees with historically large bonuses, MFT allows employees to become partners in the company and share in the profits.

The company was founded in 2017 by a small group of former Danske Commodities employees and has grown in both staff and partners since then.

(Translated using DeepL with additional editing by Kristoffer Grønbæk)