CST Industries, Inc., the world’s largest and leading tank and dome manufacturer, has been acquired by Solace Capital Partners, a private equity firm focused on special situations investments in North America.
Headquartered in Kansas City, with a 125‐year heritage, CST Industries provides storage systems, complementary or independent cover products, proprietary coating and lining services, field installation, inspection, maintenance and retrofit proficiency, to a wide range of end markets. The company has an installed base of more than 350,000 storage tanks and 18,000 covers across 125 countries. CST has nine sales offices across the United States, Mexico, Brazil, Spain, Argentina, U.A.E., Vietnam and Australia and operates five manufacturing facilities located in North America and Europe.
CEO of CST, Tim Carpenter said: “This is an exciting new chapter for our company. Over the past 18 months, we have made significant operational improvements across all facets of the business, enhancing our safety, quality, delivery, manufacturing proficiency, responsiveness and customer satisfaction. We are thrilled to partner with Solace, which recognizes the opportunities in our business and will help us reach our full potential.”
Managing Partner at Solace, Christopher Brothers said: “CST is a market leader with a blue‐chip customer base, diversified revenue streams and many exciting growth opportunities. As global demand for storage tanks and covers increases, we believe CST is well positioned to leverage its scale, unique engineering and manufacturing expertise, strong and growing order backlog and significantly strengthened balance sheet to meet the needs of its customers worldwide. We are excited to partner with CEO Tim Carpenter and his team to support CST’s business objectives.”
For more information visit www.cstindustries.com
4th Jan 2018