Tank Holding, a portfolio company of Olympus Partners, has acquired sister companies Poly-Mart and WRP Containers.
Olympus Partners acquired Tank Holding, a maker of rotationally molded polyethylene tanks and containers, from Leonard Green Partners in March 2019. This transaction with Tank Holdings was the second for Olympus Partners. The firm formed Tank Holdings in September 2008 through the combination of polyethylene and steel tank manufacturers Snyder Industries (Lincoln, NE) and Norwesco (St. Bonifacius, MN) and sold the company to Leonard Green in July 2012. The buys of Poly Mart and WRP Containers are the first add-ons completed by Tank Holding since being reacquired by Olympus.
Today, according to Olympus Partners, Tank is North America’s largest rotational molder. The company’s products include plastic tanks used to store and transport bulk liquids, dry material handling bins, insulated containers, steel transport tanks, medical waste containers, and specialty pallets sold under the Norwesco, Snyder Industries, Bonar Plastics, Bushman, and Stratis Pallets brands. Tank, led by CEO Greg Wade, currently operates 22 manufacturing plants and employs approximately 650 people throughout North America (www.tankholding.com).
Poly-Mart (www.poly-mart.com) and WRP Containers (www.wrpcontainers.com) are both located in Austin, TX, where they use the rotational molding process to manufacture both water tanks and refuse containers, respectively under the two different brand names. The Poly-Mart product line includes water and rainwater harvesting tanks in sizes ranging from 50 to 10,000 gallons, and the WRP Container’s product mix consists of front, rear, and side loading trash dumpsters in sizes varying from 2 to 8 cubic yards. The owner and CEO of Poly-Mart and WRP Containers, Sean Barber, will continue to manage the Austin operations, and work with the Tank Holding team in pursuing growth opportunities.
“Poly-Mart and WRP Containers represent an attractive product line addition to Tank Holding’s broad portfolio of products, which is consistent with our growth objectives within the water, rainwater harvesting and general material handling market segments,” said Mr. Wade.
Olympus invests in a range of industries but has specific interest in business services, food services, consumer products, healthcare services, financial services, industrial services and manufacturing. In December 2017, the firm held a final closing of its seventh institutional private equity fund, Olympus Growth Fund VII LP, with an oversubscribed $3 billion of capital commitments. The firm was founded in 1988 and is based in Stamford, CT (www.olympuspartners.com).
© 2019 Private Equity Professional | June 21, 2019