LT Corporation, a Cleveland, Mississippi-based parent company of industry-leading manufacturing and service providers, announced the acquisition of Tanco Engineering Inc., a premier builder and servicer of aboveground storage tanks.
Founded in 1979 and headquartered in Loveland, Colorado, Tanco Engineering has earned a national reputation for excellence in safety, reliability, and customer satisfaction. Over its 46-year history, Tanco has set the standard in storage tank construction, maintenance, and repair. Its services span the United States—including Hawaii and Alaska—and include in-house fabrication capabilities, patented floating roof seal systems, and the design, supply, and installation of aluminium geodesic dome roofs.
“We’re extremely excited to welcome Tanco and all its associates to our family of companies,” said Sean Wessel, president of LT Corporation. “This acquisition enhances our operating company portfolio and supports LT Corp.’s continued commitment to growth and expansion in the tank and pressure vessel markets. We are confident that with the Tanco team’s leadership, the company will continue to thrive and deliver the operational excellence it is known for.”
Chad Derringer, president and CEO of Tanco, commented, “Joining the LT Corporation family of companies is a perfect fit and has been well received by the entirety of the Tanco employee team. Our organisations share similar values, strong cultures, and strategic visions for growth within our sectors of the storage tank industry. Importantly, becoming part of an ESOP company like LT Corp. ensures that the men and women who have and continue to contribute to Tanco’s legacy will benefit as shareholders moving forward. We are especially pleased that Craig Greenslit and Tom Robinson will continue their employment with the company during the transition period.”
LT Corp. was advised by Bradley as legal counsel. Industria Partners served as the strategic advisor and Holland & Knight provided legal counsel to Tanco.
For more information visit www.ltcorp-inc.com
