Tank Holding Acquires Rotational Molding Of Utah Inc.
Tank Holding, North America’s largest rotational molder, has acquired Utah based rotational molder Rotational Molding of Utah. RMU designs and manufactures high-quality proprietary tanks, pallets, and refuse products as well as a variety of other custom products.
“RMU brings valued long term customer relationships and continues an important part of Tank Holding’s overall growth strategy, which is to strengthen leading positions in core and adjacent markets, including expansion of our custom molding division. The manufacturing facility will provide compression molding technology as well as additional rotational molding capacity in the southwest region. This acquisition affords us the opportunity to leverage our industry knowledge and expertise to create greater value for our customers,” said Greg Wade, CEO of Tank Holding.
The RMU acquisition provides additional synergy opportunities with several of Tank Holding’s recent acquisitions while complementing core tank and material handling product lines. 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 facility located in Brigham City, Utah.
“Tank Holding is the ideal partner to accelerate our growth objectives and expand our market reach. Both companies’ values are well aligned and I am confident we will continue the success for both our customers and employees for years to come,” said Joe Brough, Chairman of Rotational Molding of Utah.
The RMU announcement represents Tank Holding’s 14th 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, specialty pallets and custom products.
Tank Holding, which includes the brands of Norwesco, Snyder Industries, Bonar Plastics, Bushman, Chem-tainer, Meese, Stratis Pallets, RMI and Dura-Cast, owned by Olympus Partners and the management team, currently operates 36 manufacturing plant locations and employs over 1,000 people throughout North America, prior to the RMU 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.