Hoover to Combine with Brambles’ Oil and Gas Container Business
08.05.16
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Simpson Thacher represented Hoover Container Solutions in connection with the announced combination of Hoover, 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, with the oil and gas container solutions businesses of Brambles – Ferguson Group and CHEP Catalyst & Chemical Containers. The combination will create a joint venture company – Hoover-Ferguson Group – that will be 50% owned by Brambles and 50% owned by Hoover shareholders. Hoover’s major shareholder is First Reserve, a leading global private equity and infrastructure investment firm exclusively focused on energy.
The Simpson Thacher team included Chris May, Jim Cross and Zach Banks (M&A); Alden Millard, Eli Isak and Niyati Roy (Credit); John Creed and Michael Badain (Tax); Brian Robbins, Alisa Tschorke and Nadine Mompremier (ECEB); and Tim Mulvihill and Louise Kruger (Environmental).