Design Tanks Acquires the Manufacturing Assets of Black Hills Fiberglass
Design Tanks LLC (“Design Tanks”) announced the acquisition of the manufacturing assets of Black Hills Fiberglass. Black Hills Fiberglass manufactures fiberglass tanks primarily for the oil and gas industry and is located in Belle Fourche, SD.
Design Tanks, headquartered in Sioux Falls, SD, is a leading designer and manufacturer of custom liquid storage tanks made from fiberglass-reinforced plastic (“FRP”). Design Tanks’ design and engineering capabilities allow the Company to build tanks in a comprehensive range of sizes including capacity up to 60,000 gallons. Design Tanks’ customers rely on Design Tanks’ custom tank solutions for liquid storage in the agricultural, chemical, food, municipal and industrial markets.
The acquisition supports Design Tanks’ strategy to build a premier, multi-site manufacturer of highly-engineered FRP tanks. The combination brings together Design Tanks’ engineering capabilities and sales infrastructure with the additional manufacturing capacity and geographic diversification offered by Black Hills Fiberglass. Design Tanks will manufacture in Belle Fourche, SD which is strategically located to supply tanks for the agricultural, municipal and oil and gas markets of the Midwest and Rocky Mountain states.
Marty Comes, CEO and President of Design Tanks, said, “This acquisition allows us to expand our capacity in a way that also provides a better logistical solution to our customers in that region. It positions us for the future growth and continued job creation in South Dakota.”
There is increasing demand for quality custom FRP tanks and Design Tanks is uniquely positioned to grow with its customers. Design Tanks will also look to continue to grow through plant expansion and the acquisition of other tank manufacturers that have strong engineering and manufacturing capabilities.
First Business Bank in Madison Wisconsin provided senior debt in support of the acquisition of Design Tanks. Wells Fargo has provided senior debt in support of the Black Hills Fiberglass transaction.
For more information, go to http://www.designtanks.com