LOS ANGELES - Tank Holding Corp. (THC), which includes leading polyethylene tank manufacturersSnyder Industries and Norwesco, was acquired by Leonard Green & Partners L.P. (LGP) and the executive management team. LGP is a private equity firm, based in Los Angeles, CA, that invests in established companies that are leaders in their markets.
Snyder Industries and Norwesco are the primary brand names encompassing THC’s business operations, which are known for rotationally molded polyethylene tank and container products used in a variety of industries.
Besides specializing in plastic tanks for the storage, transportation and processing of bulk liquid and solid materials, the company also manufactures many other material-handling-related proprietary products, including steel transport containers, insulated material handling bins, medical waste containers, specialty pallets and marine flotation devices.
THC’s executive management team, including Co‐CEOs Tom Smith and Tom O’Connell, are investors in the transaction and will continue to lead the company’s future direction. They plan to continue pursuit of growth initiatives that will further strengthen the company’s core market positions and penetrate new market opportunities deemed to be a good match.
THC currently operates 24 manufacturing plants and employs approximately 680 people throughout North America.