HCS Group sells Haltermann Carless Fluids business to Solventis
HCS Group GmbH (HCS) has sold its Haltermann Carless (HC) Fluids business to Solventis Ltd., a distributor of petrochemical solvents and an existing producer of automotive fluids. All of the assets and employees of the HC Fluids business will be transferred to the new company. The transaction was closed on 31 May 2017, the company announced.
“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 Uwe Nickel, chief executive officer of HCS Group. “In recent years, we have built a solid foundation to develop our key competencies. 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. “This acquisition will make Solventis a key producer of aftermarket automotive fluids in Europe.”
The business of HC Fluids is comprised of a comprehensive range of high-quality products for automotive applications such as automotive coolants, brake fluids and windshield washers.
HCS Group, which headquartered in Frankfurt am Main, Germany, is a leading global supplier of solutions for high-value hydrocarbon specialties. The group includes the brands Haltermann Carless, ETS Racing Fuels and EOS.
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 has more than 50,000 m3 of solvent storage, and is the largest automotive product blending plant in Europe. Solventis, together with its sister company, Antwerp Distillation Co., produces more than 40,000 metric tonnes (mt) of glycols and glycol ethers per annum, which are the feedstocks for coolants and brake fluids. It is expanding its capacity to 80,000 mt by the end of this year.