Tank Holding Corp. purchases Molding Acquisition Corp.'s US assets
Tank Holding Corp. acquired all the United States manufacturing assets of Molding Acquisition Corp., which is a wholly owned subsidiary of Grupo Rotoplas, in July of 2019 in an all-cash deal, though financial terms were not disclosed. The company is divesting its US manufacturing assets so that it can focus on its e-commerce platform in the country. The agreement includes Rotoplas’ three plants in Atlanta, Dallas and Merced, California. Tank Holding, which is owned by private equity firm Olympus Partners, manufactures polyethylene tanks and containers.
Balance Sheet|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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