Hoover Ferguson completes buyout of Brambles

Hoover Ferguson Group, which specialises in container, accommodation, workspace and packaging solutions for the energy, petrochemical and general industrial end markets, has announced that its majority shareholder, First Reserve, and senior management have acquired the equity interest in the company previously owned by Brambles Limited.

The transaction includes the purchase of Brambles’ 50% ownership stake in the company as well as the refinancing of the $150m Brambles shareholder note that was put in place to facilitate the merger of Hoover Container Solutions, Ferguson Group and CHEP Catalyst Containers in late October 2016. 

“We are excited to complete this transaction which further consolidates the Company’s ownership and reduces our total debt and annual interest expense,” said Donald Young, Chairman and Chief Executive Officer of Hoover Ferguson. “This transaction enhances Hoover Ferguson’s balance sheet which allows us to better execute on our future growth plans.”

For more information, visit: www.hooverferguson.com

1st May 2018