Tank Holding (St. Bonifacius, Minnesota / USA; www.tankholding.com), a leading North American manufacturer of rotationally moulded plastic and steel bulk storage and material handling products, has acquired Tingue, Brown & Co.’s (Saddle Brook, New Jersey / USA; www.tingue.com) plastics moulding division Meese (Madison, Indiana / USA; www.meese-inc.com). David Tingue, Tingue, Brown & Co.’s CEO, said the divestment will allow the company to refocus its business on other strategic interests. Financial terms were not disclosed.

Meese was formerly known as MODRoto and Meese Orbitron Dunne. The company is a rotational moulder of proprietary and custom-made plastic products, such as bulk laundry and linen carts, material handling bins and containers as well as recycling bins.

The acquisition is Tank Holding’s tenth in about 16 months. “Meese represents an important part of Tank Holding’s overall growth strategy, which is to establish leading positions in markets that are adjacent to our legacy core business, where we can leverage our industry knowledge and expertise to create greater value for our customers,” said Tank Holding CEO Greg Wade.

The transaction includes two rotational moulding facilities, located in Madison, Indiana, and Ashtabula, Ohio. Tank Holding noted that the addition of Meese to its portfolio also provides some “intriguing synergy opportunities” with Chem-Tainer, another major player in the laundry linen and broader material handling market that it acquired in November 2019.

Tank Holding, which is owned by private equity firm Olympus Partners (Stamford, Connecticut / USA; www.olympuspartners.com) and the management team, includes the brands of Norwesco, Snyder Industries, Bonar Plastics, Bushman, Chem-Tainer and Stratis Pallets. Excluding Meese’s assets, the group operates 34 manufacturing plants and employs approximately 850 people throughout North America. Olympus is heavily invested in plastics processors, including packaging manufacturers – see Plasteurope.com of 20.05.2019 and 11.06.2019.