Tank Holding Corp. (THC), which includes leading polyethylene tank manufacturers Snyder Industries and Norwesco, was acquired by Leonard Green & Partners LP (LGP) and the executive management team. LGP is a preeminent private equity firm, based in Los Angeles, who invests in established companies that are leaders in their markets.
Snyder Industries and Norwesco are the primary brand names encompassing THC’s business operations, which are well known for rotationally molded polyethylene tank and container products widely used in a variety of industries, including agriculture, oil & gas, water, waste treatment, industrial chemical, and food processing.
Besides specializing in plastic tanks for the storage, transportation, and processing of bulk liquid and solid materials, the company also manufactures many other material handling related proprietary products, including steel transport containers, insulated material handling bins, medical waste containers, specialty pallets, and marine flotation devices.
THC’s executive management team, including co-CEOs Tom Smith and Tom O’Connell, are investors in the transaction and will continue to lead the company’s future direction, and cite plans to continue pursuit of growth initiatives that will further strengthen the company’s core market positions and penetrate new market opportunities deemed to be a good match with their unique manufacturing capabilities.
THC currently operates 24 manufacturing plants and employs approximately 680 people throughout North America.
Founded in 1989, Leonard Green & Partners has raised over $15 billion of private equity capital since its inception, and has invested in 60 companies with an aggregate value of over $50 billion.