Tank Holding Acquires Rotational Molding Inc.
Tank Holding, North America’s largest rotational molder, has acquired California based rotational molder Rotational Molding Inc. RMI designs and manufactures high-quality proprietary products in bulk laundry and linen carts, material handling bins and containers, refuse and recycling, bulk storage tanks, as well as a variety of other products including outdoor and custom products.
“RMI represents an important part of Tank Holding’s overall growth strategy, which is to strengthen leading positions in markets that are adjacent to our legacy core business, where we can leverage our industry knowledge and expertise to create greater value for our customers,” said Greg Wade, CEO of Tank Holding.
The RMI acquisition provides additional synergy opportunities with Tank Holding’s other recent acquisitions, Waste & Recycling Plastic Containers, Chem-Tainer and Meese, who are other major players in similar markets. Together, these market leading brands and product offerings provide the industry with the broadest product portfolio and the largest footprint of manufacturing facilities. The transaction includes the operations of the facility located in Gardena, California.
“Tank Holding is the ideal partner to succeed our company’s history and accelerate our growth objectives. We are confident they will continue the success for both our customers and employees for the years to come,” said Mario Poma, CEO of Rotational Molding Inc.
The RMI announcement represents Tank Holding’s 11th acquisition in the past two years, and further enhances the company’s far-reaching portfolio of products to serve a wide variety of end markets through a growing number of distribution channels.
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 intermediate bulk containers, insulated material handling bins, laundry and linen carts, refuse containers, and specialty pallets.
Tank Holding, which includes the brands of Norwesco, Snyder Industries, Bonar Plastics, Bushman, Chem-tainer, Meese and Stratis Pallets, owned by Olympus Partners and the management team, currently operates 33 manufacturing plant locations and employs approximately 900 people throughout North America, prior to the RMI acquisition.
Olympus Partners is a private equity firm focused on providing equity capital for middle market management buyouts and for 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.