HIG Europe's Haltermann acquires Petrochem Carless

Following the acquisition, Haltermann will be renamed HCS Group and will serve as the holding company of Haltermann and PCL.

The combined group had a turnover of close to €650m in 2012. Haltermann itself posted €197m for the year and operates out of four production sites in the UK and Germany. The transaction is expected to bring increased supply chain security, wider product offerings and support for global partnerships.

As a large pan-European speciality oil and chemicals group, HCS will target organic growth in the wider global chemicals marketplace, HIG said in a statement.

Haltermann is a German producer of specialty hydrocarbons with a particular focus on pentanes and high purity hydrocarbons, as well as test and reference fuels.

Company
PCL is a UK-based refiner and producer of hydrocarbon chemicals with 2012 revenues of more than £350m.

PCL refines niche hydrocarbon streams, which it obtains as the condensate by-product from North Sea oil and gas producers, as well as from other global suppliers. Its products are used in industries such as downstream chemicals, agrochemicals, oil and gas, consumer goods, printing and the automotive sector.

People
Paul Canning, Wolfgang Biedermann, Johannes Natterer, Alastair Mills and Amer Khatoun worked on the deal for HIG. Uwe Nickel is the CEO of HCS.

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