Miami, FL -- March 7, 2008 -- Hunton & Williams LLP recently represented Fomento de Construcciones Y Contratas, S.A. ("FCC"), in its acquisition of two subsidiaries of Siemens Water Technologies Corp. ("Siemens") in the United States -- Hydrocarbon Recovery Services, Inc. ("HRS") and International Petroleum Corp. of Delaware ("IPC") -- for US$ 182.4 million. The companies will join FCC's industrial waste management division, FCC Ámbito, and elevate FCC to become the second largest oil waste management company in the United States.
HRS and IPC specialize in the collection, processing and recycling of industrial oils and other ancillary services and currently serve more than 30,000 customers in 21 states in the eastern and mid-Atlantic United States.
"The acquisition of HRS and IPC by FCC's industrial waste division signifies a substantial commitment by FCC to its international expansion and their belief in the U.S. market. HRS and IPC provide a great platform as FCC intends to increase its presence here in the U.S.," said Fernando C. Alonso, partner in the Miami office of Hunton & Williams, who led the team along with Atlanta associate David R. Yates. Miami associate Uriel A. Mendieta also worked on the matter, as well as a team of environmental lawyers led by partner Catherine Little in Hunton & Williams' Atlanta office. Partner Henry Talavera in the firm's Dallas office also handled all labor and employment issues.
Although founded as a construction company, FCC has long focused on diversification and receives more than half of its revenues from non-construction businesses and public services. FCC is the leader in the environmental management field in Spain, and through this acquisition, FCC demonstrates its continued commitment to sustainability through the conversion of waste into products that serve as alternatives to fossil fuels.
Siemens was represented by Robert E. Copps and Edward Kallal of Sutherland, Asbill & Brennan LLP.