Company Description
Tank Services (“Tank”), headquartered in Dennison, Ohio, is an industry-leading specialty corrosion coatings applicator primarily focused on protecting and preserving infrastructure for customers in the utility, energy, and industrial markets. The Company provides a comprehensive suite of services, including surface preparation and coating, cathodic protection, and turnkey pipeline recoating solutions. Founded in 1974, and later acquired by Stonewood Capital Management (“Stonewood”), Tank has established a strong market position through its deep industry expertise, highly skilled field production workforce, and long-standing relationships with blue-chip customers. The Company’s preventative maintenance-driven service model is underpinned by ongoing infrastructure upkeep and regulatory compliance requirements, which drive consistent demand across its customer base. Tank also maintains a best-in-class safety culture.
Services Provided
MelCap served as Stonewood and Tank’s exclusive investment banker and financial advisor in the sale of the business. | For more information please contact: Evan J. Lyons Director & Principal evan@melcap.com
The Result
In an effort to provide the shareholders with liquidity, and to continue to support Tank’s strategic growth plans, MelCap was able to successfully identify the ideal buyer for the business. As a result, Tank was sold to Precision Pipeline Solutions, a natural gas and electric utility contractor. Precision Pipeline Solutions is a subsidiary of Primeline Utility Services, the North American utility services platform of VINCI Energies. VINCI Energies operates as a subsidiary of VINCI, a global publicly traded company headquartered in Nanterre, France, focused on designing, building, and operating infrastructure and facilities worldwide.
Deal Team
We would also like to thank the deal teams for both sides that worked on this transaction. We could not have completed this transaction without your tireless efforts. Most specifically, we’d like to thank Metz Lewis Brodman Must O’Keefe; Sheppard, Mullin, Richter & Hampton; Deloitte; and Andersen Consulting.
“Having been involved with several purchases and sales of businesses in the past, I was extremely impressed by the professionalism and approach exhibited by the MelCap team. Their team exceeded our expectations and added value throughout the entire process. We were convinced early in the process that we had made the correct decision in engaging MelCap. We certainly would give them the highest recommendation and could not have achieved the result we had without them!”
