In the city of Dallas, Texas, in 1933, the founding of Trinity Steel, began on the banks of the Trinity River in a mule barn on Irving Boulevard. Butane and propane tanks were the first products made by Trinity Steel, the company that would over the next 85 years, evolve into the manufacturing powerhouse, Trinity Industries (NYSE – TRN).
In those 85 years, Trinity Industries diversified into numerous industries, ranging from railcars to highway products. By 2018, the railcar related businesses dwarfed the other business units in Trinity Industries, including Trinity Containers, the legacy business of manufacturing propane tanks.
On November 1, 2018, the infrastructure related businesses of Trinity Industries separated to form a new, publicly traded company, Arcosa, Inc., (NYSE – ACA). Trinity Containers became Arcosa Tank. As Arcosa, Inc., developed their identity over the intervening 4 years, an opportunity to divest the Tank business in support of the new corporate strategy developed. On October 3, the sale of Arcosa Tank to Black Diamond Capital Management closed.
With a nod to our predecessors, Trinity and Arcosa, we are now TRIARC TANK.