Hoover Container Solutions, Ferguson Group and CHEP Catalyst & Chemical Containers have completed their merger transaction 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 21 October 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 centres in 26 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 centre in the world. Through its growth and development, Hoover Ferguson will continue to deliver a globally diverse suite of products, services and solutions.
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.”
Read the article online at: https://www.tanksterminals.com/storage-tanks/24102016/hoover-ferguson-chep-complete-merger/
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