Tank Holding buys rotomolder Dura-Cast
The deal is Tank Holding’s 12th acquisition in the past two years, and is part of its ongoing growth strategy.
Tank Holding, said to be North America’s largest rotational molder, continues its buying streak with the purchase of Florida-based rotational molder Dura-Cast Products Inc.
The financial terms of the deal have not been disclosed.
Dura-Cast designs and manufactures proprietary products in bulk storage tanks, bulk laundry and linen carts, material handling bins and containers, refuse and recycling, as well as a variety of other products including marine and custom products.
“Dura-Cast augments an important part of Tank Holding’s overall growth strategy, which is to strengthen our core tank business while enhancing leading positions in adjacent markets, where we can leverage our industry knowledge and expertise to create greater value for our customers,” Tank Holdings CEO Greg Wade said in a Feb. 8 press release. “It also provides additional regional capacity for the southeast markets.”
The transaction includes the facility located in Lake Wales, Fla.
The Dura-Cast acquisition provides “additional synergy opportunities” with Tank Holding’s other recent acquisitions of companies in similar markets, the press release said, including Waste & Recycling Plastic Containers, Chem-Tainer, Meese, and RMI.
“Tank Holding is the ideal partner to accelerate our growth objectives,” said Dura-Cast CEO David Orcutt. “The core values of both companies are well aligned and we are confident they will continue the success for both our customers and employees for the years to come.”
The Dura-Cast deal represents Tank Holding’s 12th acquisition in the past two years.
Owned by private equity firm Olympus Partners, Tank Holding, which includes brands Norwesco, Snyder Industries, Bonar Plastics, Bushman, Chem-tainer, Meese, RMI and Stratis Pallets, operates 34 manufacturing plant locations employing about 1,000 people in North America, prior to the Dura-Cast acquisition.