Stonewood Capital has acquired Tank Services Co. and Midwest Tank Services, Inc. Terms of the transaction were not disclosed.
EdgePoint Capital (www.edgepoint.com) initiated the transaction, led the negotiations and acted as exclusive financial advisor to Tank Services. EdgePoint is a leading investment banking firm focused on advising lower and middle market business owners with merger and acquisition advisory services.
Founded in 1972, Tank and Midwest are known for their expertise in corrosion control and cathodic protection services. The Company provides corrosion protection to items such as tanks, structural steel, poles, piping, heat exchangers, buildings, cranes, equipment, floors, vaults, sumps, pipelines, compressors, and tank batteries. The companies are based in Canton, Ohio.
Located in Pittsburgh, PA., Stonewood Capital Management, Inc. is a Pittsburgh-based private equity firm seeking investment opportunities primarily with manufacturing, assembly, or distribution companies with sales from $5 to $60 million.