Tank Holding Acquires Spin Products, Inc.
Tank Holding, North America’s largest rotational molder, has acquired California based rotational molder Spin Products, Inc. Spin designs and manufactures high-quality rotationally molded products with a special focus on custom molded products, including products for outdoor and sanitation applications.
“Spin and their valued long term customer relationships compliments our growth strategy both in our core and adjacent markets, including expansion of our custom molding division. The facility will also serve to provide additional manufacturing capacity in the southwest region. The acquisition bolsters opportunities to leverage our industry knowledge and expertise to create greater value for our customers,” said Greg Wade, CEO of Tank Holding.
The Spin acquisition provides additional synergy opportunities with Tank Holding’s other recent acquisitions, Meese, RMI and Dura-Cast who are other major players in similar markets. These market leading brands and product offerings provide the industry with a broad product portfolio and large footprint of manufacturing facilities. The transaction includes the operations of the facility located in Chino, California.
“Tank Holding is the ideal partner to grow the Spin business and further increase our facility utilization. Their growth strategy will build upon our long term success and benefit both our customers and employees for the years to come,” said Paul Burlingham, President of Spin Products.
The Spin announcement represents Tank Holding’s 13th acquisition in the past two years, and further enhances the company’s capacity and 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 35 manufacturing plant locations and employs over 1,000 people throughout North America, prior to the Spin 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.