September, 2019. Peakstone served as the exclusive M&A advisor to Iowa Steel Fabrication LLC, (doing business as Countryside Tank Company) and Majona Steel Corporation (collectively, “Countryside Tank”) in connection with its sale to TerraVest Industries Inc.
Founded in 1973, Countryside Tank is a privately-owned, Iowa-based company primarily focused on manufacturing transportation equipment for the propane and anhydrous ammonia markets as well as structural steel projects.
“Countryside Tank is a leading manufacturer of propane and anhydrous ammonia trailers for the U.S. market, the addition of the company enhances TerraVest’s propane and NH3 trailer offering in the U.S. as well as the scope of services offered in the Midwest. Countryside Tank will play a part in TerraVest’s overall effort to maximize product and service capabilities to customers across North America,” said Dustin Haw, Chief Executive Officer of TerraVest Industries.
Joe Greving, Iowa Steel’s Executive Chairman, noted, “We’re excited to become a part of the TerraVest family and accelerate our efforts to meet the evolving needs of our customers. It expands our growth strategy in North America and supports our commitment to outstanding customer service. Peakstone was an invaluable partner throughout the sale process and helped us achieve a great outcome for Countryside Tank.”
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Terms of the transaction were not disclosed.
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