Granby Steel Tanks

Steel Tanks

Overview

Granby Steel Tanks is North America's leading manufacturer of high-quality steel tanks for residential and light commercial oil-fired furnaces and boilers. TorQuest Partners purchased the company in 2002 as a carve-out from Carrier Corporation, a division of United Technologies, seeing opportunities for expansion into the HVAC segment. Operational improvements enhanced revenue, quality, workplace safety and profitability, and in 2004 the company acquired Kamco Products, North America's largest manufacturer of coated copper HVAC tubing products, giving Granby the scale to access the capital markets as an income trust. In December 2004, TorQuest closed an IPO of Granby Industries Income Fund, providing our investors with an outstanding return.