The Riverside Company Invests in Specialty Packaging Rental Provider, Hoover Circular Solutions
News Release
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November 05, 2026
An affiliate of The Riverside Company, a global investment firm focused on the smaller end of the middle market, has acquired Hoover Circular Solutions Limited (Hoover CS) from First Reserve.
Headquartered in Houston, Texas, Hoover CS is a leading provider of sustainable packaging, fleet management and logistics solutions serving refining, chemical, energy and industrial customers globally. Founded in 1911, the company operates one of the industry’s largest mixed rental fleets of specialized assets across North America, Europe, the Middle East & Asia-Pacific. Hoover CS also offers a modern fleet management program to its customers that allows them to improve their global fleet efficiency. Its Catalyst Packaging business provides closed-loop logistics for fresh and spent catalyst used in refineries, and its Chemical Packaging business supplies intermediate bulk containers (IBCs) and intermodal ISO tanks for specialty and hazardous chemicals. Hoover CS serves approximately 850 customers, with operations in North America, Europe and the Middle East.
“We are pleased to partner with Hoover CS and its leadership team to support the company’s next phase of growth. Its reusable packaging and logistics solutions serve critical needs for refining and chemical customers, and we look forward to working with the team to strengthen its operations and accelerate its growth,” said Riverside Managing Partner Sean Ozbolt.
“Hoover CS has built a specialized rental platform with long-standing customer relationships and a broad fleet across North America, Europe and the Middle East. We will work alongside management to invest in its people, systems and facilities as the company continues to serve its customers,” said Riverside Partner Craig Kahler.
This marks another investment in Riverside’s Business Services specialization. The firm has invested in more than 400 platform and add-on companies in this sector since 1988 as part of its private equity and flexible capital strategies.
“Since I joined Hoover CS in 2019, our team has worked to strengthen the business, sharpen our operations and position the company for its next stage. I want to thank First Reserve for its support along the way. Riverside will help us execute on the growth path that my team and I have established, and we look forward to partnering with them as we continue that work,” said Hoover CS CEO Kevin Friar.
Working with Ozbolt and Kahler on the deal for Riverside were Principal Shawn Alt, Senior Associate Adam Carey, Associate Erwin Singh and Operating Partner Pradeep Saha. The investment was sourced by Partner, Origination, Grant Marcks.
Houlihan Lokey acted as exclusive financial advisor to Hoover CS.
