HCS Group signs contract with Solventis for sale of HC Fluids business
Frankfurt am Main, Germany, June 1st 2017 – HCS Group GmbH (HCS), a leading global supplier of solutions for high-value hydrocarbon specialties, announced today that it has signed a contract with Solventis Ltd., a distributor of petrochemical solvents and an existing producer of Automotive fluids, for the sale of its Haltermann Carless (HC) Fluids business. All assets and employees will be transferred to the new company. The transaction was closed on May 31st 2017.
“The decision to sell our Automotive and Traded Solvent business is another step forward in line with our strategic emphasis on our core business and the long-term development of HCS”, says Dr. Uwe Nickel, Chief Executive Officer of HCS Group, and adds: “In recent years, we have built a solid foundation to develop our key competences. Now we focus on the further expansion of our profitable business with solutions and services for high-value hydrocarbons and specialties.”
“We are excited to acquire the HC Fluids business from the HCS Group as it is an excellent fit to our existing portfolio”, says David Lubbock, CEO and owner of Solventis and concludes: “This acquisition will make Solventis a key producer of aftermarket Automotive fluids in Europe.”
The business of HC Fluids comprises a comprehensive product range of high quality products for automotive applications such as automotive coolants, brake fluids and screen washes.
About the HCS Group
The HCS Group is a leading global supplier of solutions for high-value hydrocarbon specialties. The Group includes the brands Haltermann Carless, ETS Racing Fuels and EOS. The HCS Group has about 500 employees and is headquartered in Frankfurt am Main, Germany. The company belongs to H.I.G. Europe, a subsidiary of the US private equity company, H.I.G. Capital.
For further details please visit www.h-c-s-group.com
Solventis Ltd is one of the largest importers and exporters of chemical solvents in Europe. Solventis operates from a brand new state of the art terminal in Antwerp, which as well as having over 50,000 m3 of solvent storage, houses the largest automotive product blending plant in Europe. Solventis with its sister company, Antwerp distillation co, produce over 40,000 mt of glycols and glycol ethers per annum which are the feedstocks for coolants and brake fluids. Capacity is rising to 80,000 mt by the year end.
For further details please visit: www.solventis.net
HCS Group GmbH
60549 Frankfurt am Main, Germany
Phone: + 49 69 695 386-0
Bank Terrace, Gomshall Lane, Shere,
Guildford, Surrey, GU5 9HB, UK