Olympus buys rotomolder Tank Holding Corp.
Canadian Plastics
Plastics ProcessesThis is the second time that private equity firm Olympus has owned Tank, which is said to be the largest rotational molder in North America.
For the second time in 10 years, private equity firm Olympus Partners has acquired Tank Holding Corp., said to be the largest rotational molder in North America.
The terms of the deal have not been disclosed.
Olympus acquired Tank from private equity firm Leonard Green Partners, who has owned the company since buying it from Olympus in 2012.
Stamford, Conn.-based Olympus originally formed Tank with the management team in 2008 by merging Norwesco and Snyder Industries, creating a rotomolder of polyethylene tanks and containers.
Tank markets its products under the brand names of Norwesco, Snyder, Bonar, Stratis, and Bushman. Aside from plastic tanks, Tank’s product portfolio also includes dry material handling bins, insulated containers, steel transport tanks, medical waste containers, and specialty pallets.
Tanks has corporate headquarters in St. Bonifacius Minn., and Lincoln, Neb.
“Our management team cannot be more excited about partnering with Olympus once again. They have a great understanding of our business, and we look forward to working with them in the execution of our many growth initiatives”, said Greg Wade, Tank’s president and CEO, said in a statement.
