The China Materials Storage and Transportation Development Co. (CMSTD) has finalized the acquisition of a 51 percent share, valued at $60.5 million, in The Henry Bath Group, the global logistics provider specializing in the storage and shipping of metals and commodities.

UK-headquartered, 221-year old Henry Bath is a subsidiary of Switzerland-based Mercuria Energy, one of the world’s largest private energy and commodities groups. The company acquired Henry Bath from J.P. Morgan Chase & Co. when it acquired the bank’s physical commodities business for $800 million in 2014.

As the largest Chinese state-owned distribution center operator in the country, CMSTD “becomes a key and material investor in the shareholding structure of Henry Bath,” according to a statement released by Mercuria.

In China alone, CMSTD maintains more than 70 specialized logistics-distribution centers and business entities in more than 20 inland and ports, more than 70 intermodal rail facilities, and over 60 million tons of annual handing capacity.

The company recently opened facilities in the Shanghai Free Trade Zone and operates warehousing operations in key port locations across the U.S., the EU, South East Asia and the Middle East, “providing its customers with a range of logistics services including warehousing, shipping, transportation and customs clearance.”

In addition, it “has relationships with more than 20 major Chinese and global financial institutions operates the country’s primary transaction warehouses for copper, aluminum, lead, zinc, rubber, screw steel and wire materials designated by the Shanghai Futures Exchange.”

According to a statement from Henry Bath, the company’s “senior management team of Henry Bath considered China an essential milestone in the company’s Asia expansion and development strategy.”

CMSTD “is the natural partner for Mercuria and Henry Bath,” said Mercuria Energy CEO, Marco Dunand, adding the company “has an extensive portfolio of logistics assets and land holdings in premium locations across China. Combined with Mercuria’s global expertise, this will fuel the natural growth of Henry Bath.”