NEW YORK, NY, UNITED STATES, June 27, 2024 - Ascension Advisory, a leading sale leaseback advisory firm, has announced the successful completion of a twenty-three property portfolio sale leaseback transaction on behalf of
Tank Holding Corp ("Tank"). Tank is a portfolio company of
Olympus Partners, a premier private equity firm focused on middle-market buyouts. Tank is a leading designer and manufacturer of rigid liquid storage tanks and containers, material handling solutions, and custom products, specializing in rotational, injection, blow, and compression manufacturing.
New Mountain Net Lease purchased the twenty-three mission-critical production and outdoor storage facilities across sixteen states and entered into a long-term lease agreement with Tank. The lease structure ensures operational continuity for the business, highlighting the strategic importance of these locations to Tank's operations.
Chelsea Mandel of
Ascension Advisory commented on the transaction, “We're excited about the win-win outcome for Tank and New Mountain Capital. Tank will continue to scale its extensive footprint and we're happy that we could bring in a partner to help support that growth.”
Ascension Advisory is a corporate real estate advisory firm dedicated to providing real estate sale leasebacks for financial sponsors and business owners, globally. With strategically located offices in New York City, Miami, Toronto, Mexico City, London, and Madrid and a steadfast commitment to client service, Ascension Advisory assists sponsors and business owners in crafting and executing corporate real estate strategies that align with their strategic objectives. For more information about Ascension Advisory, please visit ascensionadvisory.com.
Tank Holding Corp is the market-leading designer and manufacturer of rigid liquid and material storage solutions in North America. The company offers over 14,000 SKUs including septic tanks, liquid and material tanks, bins and tubs, and custom products, serving customers across diverse end-markets, including agriculture, industrial, intermediate bulk containers, material handling, and septic/water.