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