Hoover Container Solutions has purchased Tech Oil Products Inc., which makes waste processing and handling equipment for the oil and gas and marine markets globally.
Houston-based Hoover acquired for an undisclosed amount a company that designs, manufactures, sells and rents a line of waste compacting, processing and recycling products, as well as offshore cargo equipment, according to a news release. Tech Oil, based in New Iberia, La., is best known for its Enviro-Pak, SafeSub, Windchiller and Top Offshore Basket brands.
The purchase enhances Hoover’s position as a supplier of waste processing and handling equipment, offshore recycling equipment, chemical, cargo and waste management tanks, baskets, containers and related accessories and services.
Tech Oil and the Arc of Acadiana formed a partnership, Recycle the Gulf, with the goal of reducing and recycling the volume of waste generated offshore in the Gulf of Mexico.
“The combined Hoover-Tech Oil offerings are one of the largest and most diverse in the Gulf of Mexico region and makes Hoover one of the only worldwide companies to offer a full range of cargo carrying units including chemical, cargo and waste management products to the global energy market,” said Hoover CEO Donald Young.
Tech Oil supplies industrial compactors, cardboard balers, drum crushers, filter crushers, food grinders, and cargo equipment and is a global supplier of equipment for offshore, maritime and commercial trash compacting and recycling waste materials.
Hoover rents, sells and services intermediate bulk containers, transport frames, offshore containers, intermodal tank containers and related equipment for the storage and transportation of chemicals, liquids and fluids including the industry.
Recycling equipment makers got a boost in California this month when the legislature passed a bill creating a sales tax exemption on equipment used for recycling and composting. The proposed legislation would provide a sales-and-use tax exemption on recycling and composting equipment, as well as equipment that uses recycled content in the manufacturing of new products.
Meanwhile, hauler acquisitions have continued apace. In August Inland Waste Solutions LLC acquired certain assets from Waste Management Inc.’s Deffenbaugh Disposal Inc. subsidiary, in connection with the Justice Department’s ruling on the Waste Management buy of Deffenbaugh earlier this year.
July was a busy month for acquisitions of smaller haulers. Waste Services of the Bluegrass LLC (WSB) has purchased a Kentucky waste hauler and opened a transfer station in the state. Other deals included PDC Services Inc. purchasing Melton Trucking Service, based in Groveland, Ill.; Red River Waste Solutions LP buying Marvin Konfrst Trash Service (MKTS), Glenwood, Iowa; and Corpus Christi, Texas-based K2 Waste Solutions acquiring waste and recycling hauler LT’s Garbage Service, based in Dayton, Texas.