Precision Tank, a specialized tank and equipment manufacturer with headquarters at Virginia, Ill., announced the acquisition of A&B Welding of Thompson, Iowa, a manufacturer of field-erected tanks and general contracting services. The acquisition is a key element in Precision Tank’s growth strategy to expand and diversify in the agricultural tank marketplace.
"We couldn't be more excited to welcome Arlin Kiel and the entire A&B Welding staff to the Precision Tank family," said David Hemming, CEO and president of Precision Tank. "Combined, we will be able to offer a full range of tanks, from smaller stainless, fiberglass and mild steel tanks all the way up to tanks with a 3 million gallon capacity."
The similar business cultures and non-competing products made the acquisition a natural fit. Both companies serve different areas in the agricultural tank market. Precision Tank and A&B Welding, collectively, will be able to offer additional products, resources and services to agriculture retailers throughout the Cornbelt.
Arlin Kiel, who founded A&B Welding with his late wife Betty in 1979, will remain as president. Moreover, the 40-plus staff will remain in their current positions and the company will continue to operate under the name A&B Welding.
"I'm proud of the past 35 years, but I'm even more excited about what the future holds with Precision Tank," said Kiel. "Together we will be able to provide our customers an unmatched level of resources to build and improve their operations."
Precision Tank has facilities at Virginia, Ill.; Athens, Ill.; Ligonier, Ind.; and Humboldt, Iowa. Besides offering a full range of shop-built fiberglass, stainless steel, mild steel storage and field use tanks for fertilizer and ag chemicals, Precision Tank offers similar tanks for industrial, ethanol, bio-diesel and petroleum use. Precision Tank also offers a full line of "field tough" liquid and dry application equipment, plus a related line of parts and accessories. Another line of products manufactured is fire tankers and brush trucks, catering principally to rural fire districts throughout the Midwest.
A&B Welding has been providing general contracting services, mainly in storage tank and plumbing installations, in the liquid fertilizer and chemical construction industry. A & B has built storage tanks in 12 different states in the Midwest. A&B has also been offering a diverse amount of services in conjunction to storage tank construction including design and project site layout, project site assessments, warehouses and offices, concrete work, crane services, tank cleaning, inspection and testing, tank relocation and tank moving, secondary containment, dike liners, portable welding and weld shop services.