Ambrian snaps up Masefield

Specialist investment bank Ambrian Capital said yesterday it had acquired Masefield Biofuels, which focuses on biodiesel produced from palm oil, from the Masefield Group. It did not reveal the price.

Ambrian said it would invest $5m (£3.2m) of capital into the new company, to be called Ambrian Energy and be headed by Bernd Sturmheit who worked for Vattenfall and E.ON before joining Masefield.