Engineered Transportation International continues to grow under its new Canadian ownership.
After adding LBT to its family of tank trailer brands last month, the Heil Trailer and Polar Tank Trailer parent recently acquired Tankcon FRP, a manufacturer and lessor of fiberglass-reinforced plastic chemical trailers, for $20 million ($27.8 million Canadian dollars). EnTrans, which also includes heavy-haul manufacturer Kalyn Siebert and LPG bobtail manufacturer Jarco, joined TerraVest Industries in a $546 million deal in March.
Tankcon is based in Blainville, a suburb of Montreal, Québec.
“I am delighted that TerraVest has chosen to acquire Tankcon and I look forward to seeing them grow the business to the next level,” Alain Chatillon, Tankcon owner, said in a news release. “Tankcon is an important legacy for me, and I am confident it will be a leader for many years to come in the FRP tank trailer industry.”
See also: TerraVest adds LBT to EnTrans family
EnTrans CEO Ryan Rockafellow welcomed Tankcon employees and management, and said he’s looking forward to strengthening the company’s position.
The TerraVest portfolio also includes Mississippi Tank Company, Advance Engineered Products, Maxfield, Pro-Par, and Signature Truck Systems.
See also: TerraVest buys EnTrans for $546 million
“Tankcon is a leading manufacturer in the FRP tank trailer market, and we see this as a strategic fit as we look to grow our group of tank trailer businesses,” Rockafellow said. “Both EnTrans and Advance Engineered Products will assist the company in growing and we expect to see immediate benefits for all the businesses.”
TerraVest absorbs Simplex
EnTrans’ parent also recently acquired Simplex, which designs and manufactures electrical test systems (load banks) and fuel supply systems for the standby power generation industry, for $28 million.
Simplex is headquartered in Springfield, Illinois.
“Simplex was founded in 1934 by Michael Debrey,” said Tom Debrey, Simplex owner. “The business has been in our family since that time. Our family is most pleased to find a company like TerraVest to continue the business and grow the legacy of Simplex for many years to come.”
The company is expected to join TerraVest subsidiary Highland Tank, a manufacturer of fuel and chemical storage tanks, LPG vessels, and other custom-built steel storage products.
“I am excited to welcome the Simplex team into the TerraVest family,” said John Jacob, Highland Tank president. “Simplex is a well-recognized manufacturer with a leading reputation for product innovation, and we see this as a strategic fit. Simplex products are highly complementary with both Highland Tank and the broader portfolio of TerraVest businesses, and we expect to see immediate benefits.”