(561) 750-2000

Norwesco, Inc.

The principals of Brockway Moran & Partners and Tom Smith of Norwesco share a collaboration marked by tremendous growth and success. Our principals’ involvement with Norwesco dates back over 20 years. During this period, Norwesco grew from a regionally-focused manufacturer of polyethylene tanks to the largest manufacturer of rotationally molded polyethylene tanks in the world. As partners, both parties have achieved significant liquidity multiple times.

When our principals first invested with Norwesco the company operated from five manufacturing facilities. Over a six-year period, in collaboration with our principals, Tom Smith and his team built four new manufacturing facilities and completed two add-on acquisitions – bringing the total number of plants to nine. Norwesco’s sales and operating profits grew rapidly.

Subsequently, Norwesco was recapitalized by a group of investors comprised of Norwest Equity Partners, Brockway Moran & Partners and Tom Smith. The company further expanded through the completion of five add-on acquisitions – including one outside the United States – following a targeted acquisition program. Additionally, the largest manufacturing facility to date was constructed and put into operation. As a result, the total number of plants rose to thirteen – eight more than existed when our principals first met Tom. Norwesco’s products are now available in every region of the United States and throughout most of Canada, and have penetrated new markets with new applications.

At the end of the Brockway Moran & Partners ownership period, Norwesco was sold to a publicly traded investment company, Allied Capital. Tom Smith once again attained significant liquidity and remains a substantial shareholder and continues to lead Norwesco. Norwesco is now a portfolio company of private equity firm Leonard Green & Partners and, together with Snyder Industries, comprise Tank Holdings Corp.

We value our long-standing relationship with such a talented executive and successful company and believe that our experience and success together speak volumes to the potential of a successful partnership.