By FFIC Staff
By FFIC Staff
Nov. 24, 2020 – Fol-Da-Tank LLC has officially acquired certain assets of the Eldred Corp. and The Eldred Environmental & Export Co. Ltd. (Eldred). The financial terms of the transaction were not disclosed. Eldred manufactures the patented Fol-Da-Tank portable folding water tank and other products for the fire control and environmental cleanup and containment industries.
Fol-Da-Tank LLC, headquartered in Milan, is a partnership between Tom Bernau of Bernau Capital Partners in West Des Moines, Iowa, and Joel Wright of the Wright Impact in Bettendorf, Iowa. Fol-Da-Tank will become one of Bernau Capital Partners’ 10 operating companies and was created specifically to acquire the assets of Eldred, founded by Giles A. Eldred and led by Jan, Diane (Eldred) and Chad Christensen. Wright was named president of Fol-Da-Tank, and Paul Brown will serve as plant manager.
“With this change in ownership, I am excited to lead Fol-Da-Tank’s operations to the next level of performance,” said Paul Brown, plant manager of Fol-Da-Tank.
Fol-Da-Tank employs 16 people and will continue operations from its Milan facility, with certain back-office functions being performed at Bernau Capital Partners’ headquarters.
Fol-Da-Tank products are available through distributors in the U.S. and throughout the world. For more information, please visit www.fol-da-tank.com.