Olympus Refills the Tank

STAMFORD, Conn., April 1, 2022 /PRNewswire/ -- Stamford, CT based private equity firm Olympus Partners has 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, finance acquisitions, distribute a dividend to shareholders, and general corporate purposes.

Besides being a world leader in the design and manufacturing of polyethylene tank and container products, Tank also maintains major 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 over 1,750 people throughout North America.

Olympus Partners is a private equity firm focused on providing equity capital for middle market management buyouts and for growing companies. Olympus manages in excess of $8.5 billion mainly on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs. Founded in 1988, Olympus is an active, long-term investor across a broad range of industries including business services, food services, consumer products, healthcare services, financial services, industrial services and manufacturing.

SOURCE Olympus Partners