Tank Holding Acquires Chem-Tainer
Tank Holding, North America’s largest polyethylene tank and container manufacturer, has acquired Chem-Tainer Industries.
Chem-Tainer has been rotationally molding polyethylene tanks and containers for both chemical and water applications for over 50 years, and also has a strong presence in a variety of other material handling markets, including laundry and linen carts, utility and tilt trucks, and landscape collection barrels, which are also produced from the rotational molding process.
“The Chem-Tainer product lines, manufacturing footprint and dedicated personnel will greatly enhance Tank Holding’s supply proposition to our existing tank and container customers, as well as enable us to expand our market position in more material handling applications, which is an important part of our growth strategy, going forward”, said Greg Wade, CEO of Tank Holding.
This recent acquisition announcement represents Tank Holding’s 5th acquisition in about a year after acquiring tank manufacturers, Bushman, Humboldt, Poly-Mart, and Rotoplas USA. The Chem-Tainer acquisition would be the first over this time frame to include product lines not traditionally defined as rotomolded tanks and containers, which demonstrates Tank Holding’s commitment to further diversifying the business into other product segments and end markets.
“Tank Holding is the ideal partner to succeed our management team’s 50+ year storied history, and we are confident they will continue the Chem-Tainer success story for both our customers and employees for the years to come,” said Jim Glen, President of Chem-Tainer.
Besides being a world leader in the design and manufacturing of polyethylene tank and container products, Tank Holding also maintains major market positions with many other proprietary products, including steel intermediate bulk containers, insulated material handling bins, medical waste, and specialty pallets.
Tank Holding, which includes the brands of Norwesco, Snyder Industries, Bonar Plastics, Bushman, and Stratis Pallets, is owned by Olympus Partners and the management team, currently operates 24 manufacturing plant locations and employs approximately 700 people throughout North America, before the Chem-Tainer acquisition.
Olympus Partners is a private equity firm focused on providing equity capital for middle market management buyouts and growing companies. Olympus manages in excess of $8.5 billion, mainly on behalf of corporate pension funds, endowment funds, and state-sponsored retirement programs. Founded in 1988, Olympus is an active, long-term investor across a broad range of industries including business services, food services, consumer products, healthcare services, financial services, industrial services, and manufacturing.