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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.” “This is a great moment for Hoover
THREE BECOME ONE
MERGER • THE COMBINATION OF THREE PACKAGING SUPPLIERS PROMISES TO PROVIDE A GLOBAL SERVICE TO THE OFFSHORE AND PETROCHEMICAL SECTORS
HOOVER CONTAINER SOLUTIONS, the Ferguson Group and CHEP Catalyst & Chemical Containers (CCC) have agreed to merge to form the Hoover Ferguson Group (HFG). The formation of HFG follows the signing of an agreement between US-headquartered private equity firm and Hoover owner First Reserve and Australia- headquartered Brambles, the owner of Ferguson and CCC, to form a 50:50 joint venture. Slated for completion this monty,
the merger, the companies say, “brings together three industry-leading service providers with demonstrated commitments to world-class customer service, operational excellence and quality”. Together, the combined business “will provide their full range of customers with leading products and solutions through an unparalleled
THE NEW GROUP WILL OFFER A BROADER RANGE OF IBCS AND OFFSHORE UNITS TO THE GLOBAL MARKET
global network of more than 70 service centres and 550 expert team members”. Furthermore, HFG will boast “a leading
market presence in every major energy basin and petrochemical manufacturing centre, with more than 110,000 rental units worldwide”. The new company 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, the companies assert, “presents a leader in the IBC, cargo carrying unit (CCU) and offshore modules segments by delivering a globally diverse platform providing customers with a full suite of products and services”.
STRATEGIC MERGER “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,” says Hoover CEO Donald W Young, who will lead the new company. “This will strengthen our product
and we are excited to continue our support of Donnie Young and his team through this transformative merger,” adds First Reserve managing director Neil Wizel. “Hoover has proven to be an accomplished operator and reliable solutions provider for its customers. We believe this merger represents an opportunity for Hoover to expand its capabilities and offerings on a global scale and we look forward to working in partnership with Brambles to grow the combined business and further enhance the company’s offering to its customers.”
SOLID FOUNDATION Commenting on the move, Tom Gorman, CEO of Brambles, states: “Brambles is excited to partner with First Reserve in the creation of HFG, a new truly global provider of logistics services to the oil and gas and chemical sectors. Along with industry and supply chain expertise, the enhanced scale and strong capital structure of HFG provide it with a solid foundation from which to grow and support its customers. We expect a smooth integration of Ferguson, CCC and Hoover that reflects the close cultural fit and long history of operational excellence and customer focus.” The news comes shortly after Hoover
named Tor Olav Schibevaag as its new managing director for Europe, with Kjetil Skaaren appointed general manager for Norway. “Tor Olav’s intimate knowledge of the CCU rental market will support Hoover’s position as a true market leader in Norway and globally,” says Hoover president Paul Lewis. “As an experienced leader with a history of developing and managing successful businesses within the oil and gas industry, he has a successful track record of implementing business process improvements and defining strategic direction.” HCB
www.hooverferguson.com www.brambles.com www.firstreserve.com
HCB MONTHLY | SEPTEMBER 2016
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