Tank Holding Corp., already North America's largest rotational molder, is getting even bigger with the purchase of Dutchland Plastics LLC and its two plants.
Dutchland makes high-volume rotationally molded products including kayaks, coolers, playground equipment and furniture at manufacturing sites in Oostburg, Wis., and Canastota, N.Y.
"Dutchland brings significant volume and capacity to our rotational molding platform. They have valuable long-term customer relationships and strengthens an important part of Tank Holding's overall growth strategy," Tank Holding CEO Greg Wade said in a statement.
The acquisition brings $50 million in annual sales with 280 workers and nine machines, according to the estimates in latest Plastics News ranking of rotomolders in North America. That's good enough to tie for No. 8 on the list based on 2020 numbers.
Tank Holding is, by far, the largest rotomolder in North America with estimated annual sales of $420 million in 2020, according to the Plastics News ranking.
The company, prior to the Dutchland deal, operated 39 manufacturing plants with more than 1,500 employees. Brands include Norwesco, Snyder Industries, Bonar Plastics, Bushman, Chem-tainer, Meese, Stratis Pallets and Dura-Cast, the firm said.
"Dutchland is a premier rotational molding company with great people and a great reputation. With Tank Holding's resources and strategy to continually invest in custom rotational molding, it became clear that we are aligned well to accelerate growth and expand this market," Dutchland CEO Raka Rao said in a statement.
The acquisition continues a string of deals for Tank Holding, which has made 17 acquisitions in just the past three years.
Tank Holding, owned by private equity firm Olympus Partners and management, purchased Dutchland from A&M Capital Partners, also a private equity firm. A&M acquired the rotomolder in 2017.