PE-backed Tank Holding acquires Poly-Mart and WRP Containers
Tank Holding, North America’s largest polyethylene tank and container manufacturer, has acquired Poly-Mart and WRP Containers, and all the related assets.
Poly Mart and WRP Containers are 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 tank solutions 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.
“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 Greg Wade, CEO of Tank Holding.
This recent acquisition announcement represents Tank Holding’s 3rd acquisition in the last 8 months. The Poly-Mart water and rain harvesting product line is very similar to the recently acquired Bushman and Humboldt product lines in November and December 2018, respectively.
Tank Holding also markets an existing refuse container product line to compliment the WRP product offering, which is the result of the Rotonics Manufacturing acquisition in 2012.
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 steel intermediate bulk containers, insulated material handling bins, medical waste, and specialty pallet systems.
The owner and CEO of Poly-Mart and WRP, Sean Barber, will continue to manage the Austin operation, and work with the Tank Holding team in pursuing growth opportunities. “We believe Tank Holding is the perfect partner in further developing the business we created, and look forward to working with their team on developing future opportunities,” said Barber.
Tank Holding, which includes the brands of Norwesco, Snyder Industries, Bonar Plastics, Bushman, and Stratis Pallets, is owned by Olympus Partners and the management team, currently operating 22 manufacturing plants and employing approximately 650 people throughout North America.
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.
No financial terms were disclosed
