Transaction combines three leading global providers of container solutions
to form the independent joint venture company, Hoover Ferguson Group
HOUSTON (October 23, 2016) – Hoover Container Solutions (“Hoover”), Ferguson Group (“Ferguson”) and CHEP Catalyst & Chemical Containers (“CCC”), three leading global providers of container solutions products in the energy, petrochemical and general industrial markets, have finalized their merger to form the independent joint venture company, Hoover Ferguson Group (“Hoover Ferguson”).
Global supply chain solutions company, Brambles Limited, the owner of Ferguson and CCC, and First Reserve and Hoover management, the owners of Hoover, completed the transaction on October 21, 2016. The joint venture is 50% owned by Brambles and 50% owned by Hoover shareholders.
Hoover Ferguson brings together three market-leading service providers with demonstrated commitments to world-class customer service, quality and operational excellence. The combined Hoover Ferguson business establishes one of the largest global fleets of rigid steel intermediate bulk containers (“IBCs”) and cargo container units (“CCUs”), offering more than 110,000 rental units worldwide, across a vast global network of more than 70 service centers in twenty six countries and supported by approximately 500 expert team members.
Hoover Ferguson will have a prominent market presence in every major energy basin and petrochemical manufacturing center in the world. Through its growth and development, Hoover Ferguson will continue to deliver a globally diverse suite of products, services and solutions, including the manufacturing of a comprehensive range of IBCs, catalyst containers, trash compactors, food grinders and offshore workspace/accommodation modules.
Donald W. Young, Chairman and 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 will add scale across our combined markets which will position Hoover Ferguson to bid on larger projects and help us maintain a footprint that better services customers globally. Hoover Ferguson is committed to providing our clients with solutions-based, quality products and an unparalleled level of customer service.”
Neil Wizel, Managing Director at First Reserve, stated, “The completion of this merger creates a partnership between Hoover and Brambles that offers increased bandwidth of capabilities and offerings on a global scale.”
Similarly, Tom Gorman, CEO of Brambles, remarked, “The Hoover Ferguson joint venture brings together a powerful combination of industry and supply-chain expertise that will match customers’ current and evolving needs with reliable and innovative solutions.”
Visit www.hooverferguson.com for more information.
|Hoover Ferguson Group||Brambles||First Reserve|
Hoover Ferguson Group
Tel: +1 832.295.6202
Tel: +44 7831 678234
Tel: +1 212.355.4449
Hoover Ferguson Group is an integrated service provider of chemical tanks, cargo carrying units, catalyst bins, modular containers and other related rental products and services to the global energy, petrochemical and general industrial end markets. The company provides its customers with comprehensive liquid, cargo, waste and specialized container solutions as well as a range of complementary services including cleaning, refurbishment, recertification and logistics. The company provides the highest quality products designed to meet DNV 2.7-1/EN 12079 certification standards and has achieved ISO 9001, ISO 14001 and OHSAS 18001 accreditations and an elevated UN 11 A/X certification. Hoover Ferguson was founded in 1911 and today has a rental fleet of more than 110,000 units in 70 locations and 26 countries. For further information, please visit: www.hooverferguson.com.
Brambles Limited (ASX:BXB) is a supply-chain logistics company operating primarily through the CHEP and IFCO brands. Brambles enhances performance for customers by helping them transport goods through their supply chains more efficiently, sustainably and safely. The Group’s primary activity is the provision of reusable unit-load equipment such as pallets, crates and containers for shared use by multiple participants throughout the supply chain, under a model known as “pooling”. Brambles primarily serves the fast-moving consumer goods (e.g. dry food, grocery, and health and personal care), fresh produce, beverage, retail and general manufacturing industries, counting many of the world’s best-known brands among its customers. The Group also operates specialist container logistics businesses serving the automotive, aerospace and oil and gas sectors. Brambles has its headquarters in Sydney, Australia, but operates in more than 60 countries, with its largest operations in North America and Western Europe. Brambles employs more than 14,500 people and owns more than 550 million pallets, crates and containers through a network of more than 850 service centers. For further information, please visit www.brambles.com.
First Reserve is a leading global private equity and infrastructure investment firm exclusively focused on energy. With over 30 years of industry insight, investment expertise and operational excellence, the Firm has cultivated an enduring network of global relationships and raised approximately USD $31 billion of aggregate capital since inception. Putting these to work, First Reserve has completed approximately 600 transactions (including platform investments and add-on acquisitions), creating several notable energy companies throughout the Firm’s history. Its portfolio companies operate on six continents, spanning the energy spectrum from upstream oil and gas to midstream and downstream, including resources, equipment and services and infrastructure. For more information, please visit: www.firstreserve.com.