Stamford private-equity firm Olympus Partners has acquired Tank Holding Corp., a rotational molder of tanks, for the second time in a decade. Financial terms were not disclosed.
Olympus formed Tank, headquartered in St. Bonifacius, Minnesota, in 2008 by merging Norwesco and Snyder Industries, creating the manufacturer and marketer of rotationally molded polyethylene tanks and containers. Tank manages 22 factories and has annual sales of about $250 million.
Olympus acquired Tank from Leonard Green & Partners LP, a Los Angeles private equity firm that bought Tank from Olympus in 2012.
“Our management team cannot be more excited about partnering with Olympus once again,” said Tank President and CEO Greg Wade. “They have a great understanding of our business and we look forward to working with them in the execution of our many growth initiatives.”
“The Tank management team has built a remarkable business with impressive and consistent performance across all of their products and customers,” said Manu Bettegowda, a partner at Olympus. “We are thrilled to have the opportunity to partner with the company again.”