HCS Group will be acquired by the International Chemical Investors Group (ICIG). Closing is expected in Q3 2023.
Frankfurt a.M., Germany, 14 June 2023 – HCS Group, a leading international supplier of solutions for high-value hydrocarbon specialties, is pleased to announce that it will become part of the International Chemical Investors Group (ICIG), a privately owned industrial group.
“The change of ownership will open a new chapter in our long and successful company history. We look forward to continuing our successful business model, efficient operations, and ambitious growth plans under the umbrella of ICIG”, says Henrik Krüpper, Chief Executive Officer HCS Group.
“We are very pleased to have the opportunity to acquire HCS Group forming a new platform for high-value hydrocarbons and additives within ICIG,” says Dr. Achim Riemann, Director of ICIG. “The business and the specific capabilities provide the basis for further growth and various add-on acquisition opportunities.”
A definitive agreement for this transaction has been signed between HCS’s shareholders and ICIG. The transaction is expected to close in Q3 2023 and is subject to regulatory clearance as well as the satisfaction of other customary closing conditions.
The acquisition is structured as a share deal and encompasses the entirety of HCS Group’s operating business including its brands Haltermann Carless, Electrical Oil Services (EOS) and ETS Racing Fuels as well as c. 500 employees and 7 production sites and additional sales offices in Europe and the US.
About HCS Group
HCS Group is one of leading international suppliers of high-value hydrocarbon solutions in Mobility, Life Science, Industrial and Energy. The company employs about 500 people and has production sites in Germany, the UK, France and the USA. The products are sold worldwide through the traditional brands Haltermann Carless, ETS Racing Fuels and Electrical Oil Services (EOS). With access to renewable resources from strategic partners, the Group drives the development of sustainable products making a contributing to defossilisation and the reduction of greenhouse gas emissions. In 2022, HCS Group received ISCC PLUS certification for the German sites in Hamburg and Speyer as well as ISCC EU certification for the production site in Harwich, UK. HCS Group belongs to H.I.G. Europe, a subsidiary of the US private equity investment company, H.I.G. Capital. For more information please visit: www.h-c-s-group.com.
About International Chemical Investors Group (ICIG)
International Chemical Investors is a privately owned industrial group with sales in excess of €3.6 billion and more than 5,100 employees worldwide. ICIG is focusing on four main platforms: Fine Chemicals under the WeylChem brand, Chlorovinyls under the VYNOVA brand, Compounds under the BENVIC brand, and Enterprises, which comprises several specified companies. Since inception in 2004, ICIG has acquired more than 25 independent chemical businesses in Europe and the United States, all of which have origins in major global chemical corporations. For more information please visit www.ic-investors.com.