Leonard Green Acquires Tank Holding Corp.
Tank Holding Corporation, (THC), which includes polyethylene tank manufacturers Snyder Industries and Norwesco, has been acquired by Leonard Green & Partners, L.P. (LGP) and the executive management team. LGP is a private equity company based in Los Angeles, California.
Snyder Industries recently acquired the former Rotonics, now Snyder Flotation. That and Norwesco are the primary brand names in THC’s business operations, which produce rotationally molded polyethylene tank and container products for a variety of industries. Snyder Flotation’s pipe floats are widely used in floating polyethylene pipe in the sand and gravel and small or abrasive dredging operations.
Besides specializing in plastic tanks for the storage, transportation, and processing of bulk liquid and solid materials, the company manufactures many material handling related products, including marine flotation devices, steel transport containers, insulated material handling bins, medical waste containers, and specialty pallets.
THC’s executive management team, including Co-CEOs Tom Smith and Tom O’Connell, are investors in the transaction and will continue to lead the company, strengthen the core market positions and discover new market opportunities.
THC operates 24 manufacturing plants and employs approximately 680 people throughout North America.
Founded in 1989, Leonard Green & Partners has raised more than $15 billion in private equity capital since its inception, and has invested in 60 companies with an aggregate value of more than $50 billion.