GE Antares Backs Latest Leonard Green Acquisition

GE Antares Backs Latest Leonard Green Acquisition

GE Antares served as administrative agent on a $405 million senior credit facility to support the acquisition of Tank Holdings, a designer and manufacturer of rotationally-molded polyethylene and steel containers and a portfolio company of Olympus Partners, by Leonard Green & Partners. “GE Antares has a deep understanding of Tank’s business,” said Usama Cortas, principal at Leonard Green & Partners “They have grown with the company, delivering tailored financial solutions that meet the needs of the business today and in the future. Their insight and industry knowledge was vital to the success of this acquisition.”

Olympus and management created Tank in September 2008 through the combination of Snyder Industries and Norwesco. Since 2008, the company has integrated seven tuck-in acquisitions, which have enhanced Tank’s product lines and geographic reach.

Norwesco is a manufacturer of polyethylene tanks primarily for agricultural, water, and below-ground septic applications. Founded in 1939, the company has 17 facilities in North America. Norwesco is based in St. Bonifacius, MN (

Snyder Industries is a polyethylene and steel tank manufacturer serving the agricultural, industrial, oil and gas, and septic markets in North America. The company operates six facilities across the U.S and is based in Lincoln, NE (

“We have developed a strong relationship with Leonard Green over many years and our history with Tank Holdings goes back to the late eighties,” said James Kenefick, senior managing director of GE Antares. “We are pleased to have these long-standing relationships and look forward to continuing to grow with both Tank Holdings and Leonard Green & Partners in the future.”

GE Antares is a unit of GE Capital with offices in Atlanta, Chicago, Los Angeles, New York, and San Francisco. Specializing in the middle market, GE Antares is a “one-stop” source for GE’s lending and other services to middle market private equity sponsors (

Leonard Green & Partners’ invests in middle-market companies with market-leading franchises and defensible competitive positions, attractive growth prospects and proven management teams. The firm’s investments are in the form of traditional buyouts, going-private transactions, recapitalizations, growth capital investments, corporate carve-outs and selective public equity and debt positions. Sectors of interest include retail, distribution, healthcare, aerospace/defense and consumer/business services. Leonard Green & Partners was established in 1989 and manages approximately $15 billion of equity capital. The firm is located in Los Angeles, CA (

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