Tank Holding Acquires Semco Plastic Company, Inc.
Tank Holding, North America’s largest rotational molder, has acquired Missouri based blow and injection molder Semco Plastic Company, Inc. effective May 9, 2022. Semco manufactures a variety of high volume custom and proprietary products serving the recreational, commercial, outdoor, engine and other industries. Products such as OEM fuel tanks, portable fuel containers, equipment components, refuse containers, backboards and more are designed, tooled, manufactured, assembled, packaged and shipped utilizing turnkey solutions and services to a diverse customer base with the experience and capability to produce high quality molded products out of a single facility.
“The acquisition of Semco is consistent with our strategy to invest into adjacent plastic processing technologies while continuing to demonstrate our commitment to provide our customers further capabilities. We believe there is tremendous opportunity for us to utilize blow molding to expand our proprietary product offering while also complementing our commitment to custom molding. The addition of blow molding and injection molding capabilities to our vast rotational molding network provides us with the unique position to offer more plastic molding options to our valued customers. Semco, with its successful seventy-five year history and continuous investment in equipment and capability, delivers the competency and scale we desired to enter into these complementary molding technologies,” said Greg Wade, CEO of Tank Holding.
The Semco acquisition provides synergy opportunities with Tank Holding’s core business along with several recent acquisitions, including six last year and Dutchland this year which were focused on custom molding and proprietary products. These market leading brands and multiple molding capabilities provide the industry with the broadest product portfolio and the largest footprint of manufacturing facilities.
“Semco has been in our family for four generations and we have built a great business with great people. We’re proud of our significant investments in the business with modern technology and building expansions to keep up with growth and offer competitive value to our customers. As we reached a family decision to sell the business, we quickly concluded that Tank Holding, with its resources and strategy to invest in molding, was the best partner to purchase the business and continue the growth for our employees and customers,” said Chuck Voelkel, CEO of Semco.
The Semco announcement represents Tank Holding’s 19th acquisition in the past three years and further enhances the company’s penetration into custom molding.
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, and Dura-Cast, owned by Olympus Partners and the management team, currently operates 42 manufacturing plant locations and employs over 1,700 people throughout North America, prior to the Semco 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.