On course for growth: HCS Group buys shares in British Electrical Oil Services from Joint Venture Partner Castrol and is now the sole shareholder.
Frankfurt/Stanlow, 25 August 2015. The HCS Group today completed its acquisition of Castrol’s 50 per cent stake in the two companies’ Electrical Oil Services (EOS) joint venture. This means that the HCS Group, a leading global manufacturer of high-quality hydrocarbon and chemical specialty products, is now the sole shareholder in the company based in Stanlow in the UK. The completed transaction continues the Group’s internationalisation strategy following the purchase of the US company Shu-Chem Holding Inc. in July.
With the acquisition of Castrol’s shares, the HCS Group is strengthening its presence in the European market for specialty chemicals and is expanding its business in the service-driven chemical product sector. In addition, the Group is supplementing its technological expertise with the
increasingly important oil recycling field.
“The UK is a traditional and important market for us. We will continually expand our technological competence here during the coming years, especially in our Exploration and Oil Services industry cluster. We will therefore also strengthen our expertise in providing environmentally friendly and sustainable solutions for the respective customers in this important area. The acquisition of EOS is an important step in this regard and optimally complements our growth strategy for the entire European market,” says Uwe Nickel, CEO of the HCS Group.
The merger with the HCS Group also opens up considerable potential for EOS. “We can now draw on the Group’s sales network and its technological expertise at the various sites around the world. This will enable us to develop new sales markets for our products and continually expand our product range,” says Tom Larney, Managing Director of EOS.
About the HCS Group
The HCS Group is one of the leading manufacturers of high quality Hydrocarbons and Specialties. The products are sold globally under the traditional brands of Haltermann Carless and ETS Racing Fuels. HCS Group is owned by H.I.G. Europe, the European affiliate of H.I.G. Capital, a leading global private equity firm focused on middle market companies.