DENVER, CO - Headwaters MB advised Tech Oil Products, Inc. (“Tech Oil”), a leading provider of waste, recycling, and cargo handling equipment to the offshore, maritime, and commercial industries in the Gulf of Mexico and globally, on its sale to Hoover Container Solutions, a portfolio company of First Reserve Corporation. The acquisition provides a critical addition to Hoover's portfolio of intermediate bulk containers, tote tanks, ISO tank containers and offshore containers.
Tech Oil’s lines of Enviro-Pak waste and recycling equipment and SafeSub® sub baskets are the preferred brands for oil and gas majors, mid-majors, and independents in the U.S. offshore markets. Additionally, Tech Oil’s products are a leading solution that support global marine and shipping operators in complying with evolving MARPOL standards for handling waste at sea.
Headwaters' Managing Director Ted Kinsman said, “We’re extremely pleased to have facilitated this important transition for Tech Oil Products, rewarding 35 years of innovation and product quality, building an industry leading manufacturer of waste handling and cargo equipment for the offshore and marine industry.” Headwaters' Managing Director Sam Hill added, "We feel that both the Tech Oil and Hoover shareholders will realize significant value as a result of this merger."