HOUSTON (Aug. 4, 2016) – Hoover Container Solutions, Ferguson Group 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 to form a 50:50 joint venture through the merger. The combined HFG business will provide their full range of customers with leading products and solutions through a global network of more than 70 service centers and 550 expert team members. The new company will have a 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. The merger transaction anticipates completion during October 2016, subject to regulatory clearance and the satisfaction of customary conditions.
Thu, 08/04/2016 - 00:00