October, 2019. Peakstone served as exclusive M&A advisor to Design Tanks, LLC, an Aldine Capital Partners portfolio company, in connection with its sale to The Purcell Companies.
Founded in 1956, Design Tanks sells a full range of fiberglass reinforced plastic (FRP) tank sizes and accessory products for a wide range of applications. Headquartered in Sioux Falls, South Dakota, its products are sold nationally and internationally.
Mike Revord of Aldine Capital stated, “We are thrilled with the results. The process and advice from Peakstone helped get a great deal done with an ideal partner to support the management team going forward.”
Mike McLoone, COO of The Purcell Companies, said, “Design Tanks is well-positioned to capitalize on its core strengths. With our capital resources, operational experience and long-term investment horizon, we look forward to further optimizing the Company’s operations and business model and elevating Design Tanks to its next level.”
Terms of the transaction were not disclosed.
For additional information regarding Peakstone services, please contact the following:
Mark Horita, Managing Director, (312) 346-7308, mhorita@peakstone.com
Peter Melloni, Managing Director, (630) 664-3457, pmelloni@peakstone.com
Jeff Temple, Managing Director, (312) 346-7301, jtemple@peakstone.com
About Peakstone
Peakstone is a leading investment bank that specializes in mergers and acquisitions advisory and capital raising for middle market clients. The team is comprised of senior investment banking professionals who have decades of experience and have executed hundreds of transactions totaling billions of dollars. For additional information, visit www.peakstone.com
About Aldine Capital Partners
Aldine Capital Partners is a private investment firm, which provides mezzanine and junior capital financing to lower middle-market companies. Aldine typically invests $4-25 million per transaction in a combination of subordinated debt and equity. Collaborating with traditional and independent sponsors as well as talented management teams, Aldine deploys capital to facilitate growth, support acquisitions/buyouts, or provide shareholder liquidity. Our success is built on a collaborative approach that harnesses over 70 years of combined experience and relationships to create tailored capital solutions. http://aldinecapital.com
About Design Tanks
Headquartered in Sioux Falls, South Dakota, Design Tanks creates premier fiberglass storage tanks for customers across the nation and around the world. Our custom tanks come in many shapes and sizes—from two to 14 feet in diameter and holding from 50 to 50,000 gallons, with a variety of product options. http://www.designtanks.com