Hoover Container Solutions, Ferguson Group and CHEP Catalyst & Chemical Containers Announce Merger

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HOUSTON, Aug. 4, 2016 /PRNewswire/ -- 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."

Neil Wizel, Managing Director at First Reserve stated: "This is a great moment for Hoover, and we are excited to continue our support of Donnie Young and his team through this transformative merger.  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."

Tom Gorman, CEO of Brambles, remarked: "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 merger transaction anticipates completion during October 2016, subject to regulatory clearance and the satisfaction of customary conditions. Please visit www.hooverferguson.com for more information.

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Hoover Group, Inc. is an integrated service provider of chemical tanks, cargo carrying units, and other related products and services to the global energy, petrochemical and general industrial end markets. The company provides its customers with comprehensive liquid and cargo containment solutions as well as a range of complementary services including cleaning, refurbishment, remote tracking and recertification. Hoover was founded in 1911 and today has a rental fleet of over 60,000 units consisting of various chemical tanks and cargo carrying units. Hoover has been a First Reserve portfolio company since January 2015. www.hooversolutions.com.

Ferguson Group, founded in 1976 and headquartered in Aberdeenshire, Scotland, employs [200] people worldwide and is part of the global supply chain solutions company, Brambles Limited. From its bases in the UK, Norway, Australia, Singapore, UAE and partners globally, the team provides equipment rental solutions to the oil and gas industry. Ferguson Group's product portfolio includes offshore transportation containers, refrigerated containers (via IceBlue Refrigeration Offshore), as well as accommodation, workspace, and ancillary modules.  The company is committed to providing exceptional customer service and the highest quality products designed to meet DNV 2.7-1/EN 12079 certification standards. Ferguson Group has also achieved ISO 9001, ISO 14001, and OHSAS 18001 accreditations. www.ferguson-group.com.

CHEP Catalyst & Chemical Containers (CCC), part of the global supply chain solutions company, Brambles Limited, provides a complete catalyst and chemical management solution for domestic and intercontinental supply chain movements. The petroleum refining, gas processing, and petrochemical manufacturing industries face challenging regulatory, safety and cost control environments and CHEP CCC's experience in these industries allows it to support its customers in various ways. These include the packaging and transport of hazardous and non-hazardous materials by road, rail or sea. CHEP helps the world's largest petrochemical companies improve their cost and asset visibility. www.chepccc.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 14,000 people and owns more than 500 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 more than 575 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.

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SOURCE Hoover Container Solutions; Ferguson Group; CHEP Catalyst & Chemical Containers

Related Links

http://www.chepccc.com