Hoover Container Solutions (Hoover”) has entered into an agreement to partner with First Reserve, the largest global private equity firm exclusively focused on energy. Financial terms of the transaction were not disclosed.
One of the global industry leaders in oilfield fluids container solutions, Hoover operates worldwide through 15 facilities in North and South America, Europe, Australia, the Middle East and Southeast Asia. The company has a rental fleet of approximately 40,000 stainless steel intermediate bulk containers (“IBCs”), 8,000 cargo carrying units and more than 15,000 slings, GPS asset tracking units and other peripheral equipment.
Hoover was the original manufacturer of stainless steel IBCs approximately 50 years ago and has a history of pioneering and innovating material handling solutions since 1911. Hoover has earned a reputation with its loyal customers for being a high-quality service provider.