TANK HOLDING ACQUIRES DIVISION FROM AGRI PLASTICS IN CANADA
Tank Holding Corp., North America’s largest rotational molder, which includes major polyethylene tank manufacturers, Norwesco and Snyder Industries, has acquired Agri Plastics’, Material Handling Division.
Agri Plastics is also a leading rotational molder of a wide range of products, including calf hutches and pens, cargo boxes for all terrain vehicles (ATVs), and a variety of other custom and proprietary product lines. The company maintains 2 plant locations in Ontario, Canada, one in Stoney Creek and the other in Grassie.
Agri Plastic’s Material Handling Division manufactures a broad product line of bulk containers designed to transport and store a wide array of materials for many industries, ranging from food processing to recycling, and includes an offering of insulated containers used to handle temperature sensitive materials, like seafood and poultry.
“The products manufactured by Agri Plastic’s Material Handling Division are an attractive addition to some of our existing product lines, and represent an opportunity to further expand our sales channels into new and existing markets”, said Tom O’Connell, Co-CEO of TH Corp. and President of Snyder Industries.
“This acquisition also reflects a continuation of our company’s strategic plan over the last 15 years, which is to acquire more companies with attractive proprietary and custom product lines to expand our manufacturing capabilities, so we can improve our value proposition as a supplier to both existing and new customers” O’Connell added
Besides specializing in plastic tanks for the storage, transportation, and processing of bulk liquids, Tank Holding Corp. also manufactures many other proprietary products, including DOT approved transport containers for hazardous materials, medical waste and refuse containers, insulated containers, and specialty pallets.
Darren Van Buuren, Director of Agri Plastics, whose family founded the company in 1995, will continue to lead the company in pursuing growth opportunities for their remaining core business “Exiting the material handling market will allow us to focus more energy and resources on other markets that we believe will be more strategic in achieving our long term growth plans ”.
Tank Holding management intends to evaluate opportunities to expand manufacturing of other products in Canada, and plans on introducing a number of new products throughout North America in the coming months.
Tank Holding Corp., which includes the brands of Bonar Plastics and Stratis Pallets in addition to Norwesco and Snyder Industries, is owned by Leonard Green Partners and the management team, and currently operates 22 manufacturing plants that employ approximately 600 people throughout North America.
Founded in 1989, Leonard Green & Partners is a leading private equity firm based in Los Angeles, CA, which has raised over $15 billion of private equity capital since their inception, and has invested in over 80 companies with an aggregate value over $75 billion.