Brenner Tank Bought by Peterson Industries
Sep 5, 2001 12:00 PM
Brenner Tank Inc, a leading manufacturer of transportation tank trailers, with headquarters in Fond du Lac WI, announced September 4 that the business has been purchased by Peterson Industries LLC of Sturgeon Bay WI effective September 1, 2001. Brenner will conduct business under the new names, Brenner Tank LLC and Brenner Tank Services LLC.
Bruce Wadman will continue as Brenner president under the new ownership. He served in key management positions with the business for more than 10 years, including executive vice-president and general manager at Brenner. Other key managers also will remain at Brenner.
David Brenner, chairman of Brenner Tank, said, "We are extremely pleased that our company, which has been family-owned for more than 100 years, has been acquired by another family-owned company with a heritage and values very much like our own. They also have the commitment and financial resources necessary to meet the growth objectives in the decades ahead."
"What impressed us most about Brenner were their outstanding customer base, unwavering commitment to their marketplace and the quality products produced by their highly skilled workforce," Robert Agnew, Peterson Industries president said. "These are values that have always also been part of the PBI culture."
Agnew, who previously served as Brenner president, said that Peterson began searching for an appropriate acquisition during June of 2000 and decided to pursue Brenner after evaluating more than a dozen opportunities.
Brenner Tank was founded in 1900 as the Jacob Brenner Co. Today the company employs more than 300 people, operating facilities in Fond du Lac and Mauston WI, Houston TX, Memphis TN, and Ashland KY. The company is a major manufacturer of stainless steel cargo tanks in North America, and also produces transport tanks in aluminum and carbon steel. Its products are sold throughout the United States and Canada, as well as in many other countries.
Peterson Builders Inc, which was founded in Sturgeon Bay in 1933, owns Peterson Industries. For much of its history, the company's core business was producing military vessels for the US Navy and Army, until the 1990's when consolidation in the industry made the shipbuilding business less attractive and the shipbuilding portion of the business was closed. Since then Peterson has focused its attention on its real estate business, and, more recently, on the acquisition of well-managed, growth-oriented Wisconsin companies like Brenner.