Hoover Container Solutions, Ferguson Group and CHEP Catalyst & Chemical Containers Announce Merger.
Transaction Combines Three Leading Global Providers of Container Solutions
HOUSTON (August 4, 2016) – Hoover Container Solutions (“Hoover”), Ferguson Group (“Ferguson”) and CHEP Catalyst & Chemical Containers (“CCC”), three of the leading global providers of container solutions products in the energy, petrochemical and general industrial markets, announce that they are merging to form Hoover Ferguson Group (“HFG”).
Global supply chain solutions company, Brambles Limited, the owner of Ferguson and CCC, and First Reserve, the owner of Hoover, a leading private equity and infrastructure investment firm exclusively focused on energy, reached an agreement on August 4, 2016 to form a 50:50 joint venture through the merger.
Hoover Ferguson Group brings together three industry-leading service providers with demonstrated commitments to world-class customer service, operational excellence and quality. The combined HFG business will provide their full range of customers with leading products and solutions through an unparalleled global network of more than 70 service centers and 550 expert team members.
The new company will have a leading market presence in every major energy basin and petrochemical manufacturing center, with more than 110,000 rental units worldwide. HFG will also be a worldwide leader in the manufacturing of a comprehensive range of intermediate bulk containers (IBCs) and offshore workspace and accommodation modules. This combination presents a leader in the IBC, cargo carrying unit (CCUs) and offshore modules segments by delivering a globally diverse platform providing customers with a full suite of products and services.
Donald W. Young, CEO of Hoover, will lead the new company, supported by a management team comprised of senior executives from Ferguson, CCC, Hoover and Brambles. He commented: “This strategic merger is a great opportunity for all three companies to expand complementary products and service offerings while also broadening our relationships with existing and potential customers. This will strengthen our product and service line offering worldwide. Hoover Ferguson Group combines the very best people, solutions and industry expertise which allows us to continue to provide quality products and unparalleled customer service to all of our clients.”
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