Olympus fills the tank
STAMFORD, Conn., April 1, 2022 /PRNewswire/ — Stamford, Connecticut private equity firm Olympus Partners recapitalized Tank Holding (“Tank”) in a $1.685 billion transaction led by Antares Capital, Intermediate Capital Group, The Carlyle Group and Barings Global Private Finance. Proceeds from the transaction will be used to refinance existing debt, fund acquisitions, distribute a dividend to shareholders and for general corporate purposes.
In addition to being a world leader in the design and manufacture of polyethylene tank and container products, Tank also maintains significant market positions with many other proprietary products including Intermediate Bulk Containers, insulated totes, laundry and laundry carts, waste containers, specialty pallets and custom products.
Acquired by Olympus Partners and management in 2019, Tank has completed 17 acquisitions over the past three years. Tank Holding includes Norwesco, Snyder Industries, Bonar Plastics, Bushman, Chem-tainer, Meese, Stratis Pallets and Dura-Cast brands and operates 41 manufacturing plants and employs more than 1,750 people across North America.
ABOUT OLYMPUS PARTNERS
Olympus Partners is a private equity firm focused on providing equity capital for mid-market executive buyouts and growth companies. Olympus manages more than $8.5 billion primarily on behalf of corporate pension funds, endowments and government retirement programs. Founded in 1988, Olympus is an active long-term investor in a wide range of sectors, including business services, food services, consumer products, healthcare services, financial services, industrial services and manufacturing.