Tank Holding continues buying spree with purchase of rotomolder Spin Products
Located in Chino, Calif., Spin designs and manufactures products with a special focus on custom molded products, including for outdoor and sanitation applications.
In its second acquisition of the month, Tank Holding, said to be North America’s largest rotational molder, has acquired California-based rotomolder Spin Products Inc. for an undisclosed amount.
The transaction includes the operations of the facility located in Chino, Calif.
Spin designs and manufactures products with a special focus on custom molded products, including products for outdoor and sanitation applications.
“Spin and their valued long-term customer relationships compliments our growth strategy both in our core and adjacent markets, including expansion of our custom molding division,” Tank Holding CEO Greg Wade said in a Feb. 15 news release. “The facility will also serve to provide additional manufacturing capacity in the southwest region. The acquisition bolsters opportunities to leverage our industry knowledge and expertise to create greater value for our customers.”
The Spin acquisition provides what Tank Holding officials call “additional synergy opportunities” with Tank Holding’s other recent acquisitions, Meese, RMI, and Dura-Cast, which are all described as “major players” in similar markets.
The purchase of Spin is Tank Holding’s 13th acquisition in the past two years, and its second of the month: it acquired Florida-based rotational molder Dura-Cast Products Inc. less than 10 days ago.
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.