The HCS Group is expanding in the USA with its acquisition of ShuChem Holdings Inc., a local manufacturer of selected alcohols and esters.
Frankfurt/Manvel, 28 July 2015. The HCS Group, a world-leading manufacturer of high-quality hydrocarbon-based and specialty chemicals, is announcing its acquisition of Shu-Chem Holdings Inc. (“Shu-Chem”), a family-owned company headquartered in Manvel (Houston/Texas). With this acquisition, the HCS Group is growing its market presence in the US and continuing its systematic international expansion.
“The US market is a strategic target region as part of our international growth strategy. For decades our Haltermann and Carless brands have been known on the North American continent as guarantors of high quality products. With the acquisition, we are not only creating a production base in North America but are also consistently expanding our product range for the US market. That is strengthening our market presence on the ground”, explains Uwe Nickel, CEO of the HCS Group.
Since its founding in 1983, Shu-Chem has been producing various alcohols and esters that are used by the pharmaceutical and printing industries. Its business model and product portfolio align well the HCS Group. “The products from Shu-Chem fit to our product range and systematically extend our portfolio. In the USA, the HCS Group’s product brands have stood for years for quality and reliability. This will benefit Shu-Chem’s customers. At the same time we’re expanding the range for our customers, which is an excellent combination,” adds Nickel.
The integration into the HCS Group also offers benefits for Shu-Chem. “The HCS Group is internationally well-positioned. The integration into the HCS corporate structure will enable us to create the conditions for further growth and innovation. We’re therefore securing the company’s competitiveness and future viability,” says Sue S. Schwartz, owner and CEO of Shu-Chem Holdings Inc., in explaining the benefits of the merger.
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. The HCS Group is a portfolio company of H.I.G. Europe, a subsidiary of the US private equity company, H.I.G. Capital (www.h-c-s-group.com).
About Shu-Chem Holdings Inc.
Shu-Chem was founded in 1983 by Andy Schwartz. The family-run company under the direction of Sue S. Schwartz has its headquarters in Manvel, Texas. It sells its products in the US market through its subsidiaries HCH Marketing and HCH marketing Services
Phone: +1 2813312065