HCS Group will be acquired by the International Chemical Investors Group (ICIG)
Closing is expected in Q3 2023
HCS Group, a 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 ca. 500 employees and seven production sites and additional sales offices in Europe and the US.
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