Hoover Container Solutions Acquires Tech Oil Products, Inc.

Hoover Container Solutions (“Hoover”), a leading provider of chemical tanks, cargo carrying units and related products and services to the global energy, petrochemical and related industrial end markets, has acquired Tech Oil Products, Inc. (“Tech Oil”).

Founded in 1980 and headquartered in New Iberia, Louisiana, Tech Oil has become an integral part of the Gulf Coast business community, and a market leader for waste processing and handling equipment to the oil & gas and marine sectors globally. The company designs, manufactures, sells and rents a line of waste compacting, processing and recycling products, as well as offshore cargo equipment. Best known for their ENVIRO-PAK, SafeSub, Windchiller and TOP Offshore Basket brands; the full product line includes over 60 products known worldwide for their reliable and safe operation. Recycle the Gulf - a partnership between producers and operators, Tech Oil and the Arc of Acadiana - was launched in 2001 with the goal of reducing and recycling the volume of wasted generated offshore in the Gulf of Mexico. The program provides a valuable service and has made Tech Oil a trusted pillar of the Gulf Community and a responsible warden for the environment.

The acquisition of Tech-Oil will firmly establish Hoover as a premier supplier of waste processing and handling equipment, offshore recycling equipment, chemical, cargo and waste management tanks, baskets, containers and related accessories and services. Together they will continue to provide a diverse product range and robust services to their customers across the region and in the global energy marketplace.

Hoover’s Chief Executive Officer, Donald Young said, “Hoover is always working to introduce innovative products and services to the market and expand operations to best meet our customer needs. The combined Hoover-Tech Oil offerings are one of the largest and most diverse in the Gulf of Mexico region and makes Hoover one of the only worldwide companies to offer a full range of cargo carrying units including chemical, cargo and waste management products to the global energy market. This acquisition follows our partnership with First Reserve last January and supports our growth plan.”

“The partnership of Hoover and Tech Oil will allow us to provide a more complete product and service offering to our customers Worldwide.” said John Zimmer, President of Tech Oil Products. “We are excited to work with the Hoover because both teams share a similar commitment to high quality products and superior customer service.”

About Hoover
Hoover Container Solutions, Inc. rents, sells and services intermediate bulk containers (IBCs), transport frames, offshore containers, intermodal (ISO) tank containers and related equipment for the storage and transportation of chemicals, liquids and fluids including the industry leading Liquitote IBC. Hoover’s products meet the highest quality standards (DNV, UN, IMO and others) in the industry and can be fully customized according to client specifications. In addition to its corporate headquarters in Houston, TX, Hoover has manufacturing, sales, service and distribution facilities in Scott, LA, New Iberia, LA, Houma, LA, Port Fourchon, LA, Midland, TX, Chicago, IL, Stavanger, Norway, Aberdeen, Scotland, Warsaw, Poland, Macae, Brazil, Melbourne and Perth, Australia, Kuala Lumpur, Malaysia and Abu Dhabi, U.A.E. For more information, visit www.HooverSolutions.com.

About Tech Oil
Tech Oil Products, Inc. supplies industrial compactors, cardboard balers, drum crushers, filter crushers, food grinders, and cargo equipment and is a global leader in equipment for offshore, maritime, and commercial trash compacting and recycling waste materials. Tech Oil has placed equipment in hundreds of diverse environments and across industries, both domestically and internationally. Headquartered in New Iberia, LA, Tech Oil engineers continue to design innovative products that provide solutions to unique environmental challenges. Tech Oil is committed to maintaining its position as an industry leader in the design, manufacturing, and delivery of safe, simple, and reliable marine compaction and recycling equipment, cargo handling equipment and environmental services.