Snyder Industries (Lincoln, Neb.), a manufacturer of polyethylene tanks and containers for the storage, transportation and processing of bulk materials, acquired the Asset Tank divisions of Clawson Container Company (Clarkston, Mich.). The Asset Tank divisions include the manufacturing plants to produce both rotationally molded and fabricated steel intermediate bulk containers (IBCs), as well as related rental tank fleets utilized to support similar end markets. Clawson Container Company will retain its blow-molded IBC manufacturing plants and related business units, which includes IBC North America and Clean Tide Container.
Intermediate Bulk Containers (IBCs) are portable bulk transportation containers used to handle a variety of liquid, solid and dry materials in a broad range of markets, including agricultural, water treatment, chemical distribution, paints, food and beverage. Snyder Industries one of the world’s largest manufacturers of rotationally molded polyethylene IBCs. The Clawson acquisition will expand Snyder’s IBC product offering to include stainless and carbon steel IBC designs, which will reportedly allow the company access to new markets not presently serviced by its polyethylene product line due to some performance limitations in the areas of chemical compatibility, temperature exposure, sterilization, and some government regulatory restrictions.
“This acquisition is a good fit with our existing product lines and strategic focus, and provides an entry into traditional steel markets, which will substantially expand our company’s growth opportunities in the greater material handling and storage markets,” said Thomas O’Connell, Snyder president and CEO.
Snyder Industries is a privately owned company with majority interest being held by Cortec Group Fund III, a New York based private equity firm, which invests in middle market manufacturing, distribution, and service businesses.