Tank Holding
Ibc Tote Products

Olympus recapitalizes tank manufacturing business

April 11, 2022
Tank Holding, whose brands include Synder Industries and Chem-tainer, makes IBCs and many other container products

Stamford, Conn.-based private equity firm Olympus Partners recently recapitalized Tank Holding 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, finance acquisitions, distribute a dividend to shareholders, and general corporate purposes, the company said.

Tank is a leader in the design and manufacture of polyethylene tank and container products. It also maintains market positions with many other proprietary products, including intermediate bulk containers, insulated material handling bins, laundry and linen carts, refuse containers, specialty pallets, and custom products.

Acquired by Olympus Partners and management in 2019, Tank has completed 17 acquisitions in the past three years.

Tank Holding includes the brands of Norwesco, Snyder Industries, Bonar Plastics, Bushman, Chem-tainer, Meese, Stratis Pallets, and Dura-Cast; and operates 41 manufacturing plant locations and employs more than 1,750 people throughout North America, according to Olympus Partners.

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