Molding two companies into one to achieve profound growth
Olympus invested in Lincoln, NE-based Snyder Industries in July 2008. Snyder was the leader in North American rotational molded storage systems serving the chemical and industrial industries as well as the rapidly growing energy sector. Olympus and management team believed the Company was well positioned to grow organically, as well as through tuck-in and transformational acquisitions.
The day after the Snyder transaction closed, Olympus met with Minnesota-based Norwesco to partner with them. Norwesco was the leader in rotational molded storage containment systems serving the rapidly growing liquid fertilizer and water storage industries in North America. Olympus purchased Norwesco in October 2008 and made Snyder and Norwesco sister businesses operating under their own brands as subsidiaries of Tank Holding Corp. Olympus kept both management teams in place, including both CEOs and CFOs during its ownership.
Together, Snyder and Norwesco offered its customers the most expansive range of products at a lower cost than its competitors. Tank built a loyal, diversified customer base of more than 1,000 distributors, retailers and end users throughout North America, and served these customers through the Company’s combined manufacturing network of over 22 plants and distribution locations.
Over the next four years, Tank Holding Corp. completed eight smaller acquisitions to further expand its geographic and product breadth.
After more than doubling EBITDA during Olympus ownership, Olympus successfully sold the business in July 2012, tripling its initial investment in both companies.