Ashland Capital Partners Announces Sale of KBK Industries, a Leading U.S. Manufacturer of Specialty Tank Solutions

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CHICAGO--(BUSINESS WIRE)--Jan 27, 2026--

Ashland Capital Partners (“Ashland”), a Chicago-based private investment firm focused on building enduring industrial businesses, today announced the sale of KBK Industries (“KBK”), a premier manufacturer of fiberglass and steel tanks and separation equipment. The transaction concludes a highly successful 19-year partnership between Ashland and KBK.

Headquartered in Houston, Texas KBK Industries has long been recognized as a trusted provider of liquid storage and separation solutions for the energy, chemical, agricultural, and wastewater industries. Since acquiring the business in 2006, Ashland has worked alongside management to scale the company’s manufacturing capabilities, while preserving its legacy of quality and reliability.

“We are incredibly proud of what we have accomplished together with the KBK team over the last 19 years,” said Jim Lynch, Founder and Chairman at Ashland Capital Partners. “Our long-term investment in KBK exemplifies Ashland’s philosophy of patient capital and partnership. We didn’t just buy a business; we invested in people and infrastructure to build a market leader.”

As a result, since Ashland Capital Partners’ initial investment in 2006 and including all realized proceeds, Ashland generated an annual internal rate of return (“IRR”) of 45.5% and a multiple of invested capital (“MOIC”) of 118x on its equity investment in KBK Industries.

Under the leadership of CEO Steven White, KBK has achieved significant operational milestones and solidified its reputation for innovation.

“This announcement marks an exciting new chapter for KBK Industries,” said Steven White, CEO of KBK. “Ashland Capital Partners has been an exceptional partner, providing the strategic resources and autonomy needed to grow while staying true to our core values of quality manufacturing and customer service.”

The transaction also reflects the enduring commitment of KBK’s founder, Bill Baalmann, who remained a Limited Partner and supporter of the business following Ashland’s acquisition.

Ashland Capital Partners was supported in this investment by its long-time partner, Main Street Capital Corp (NYSE: MAIN).

About Ashland Capital Partners Ashland Capital Partners is a values-driven investment firm based in Chicago, focused on investing in and growing lower-middle-market industrial companies.

For more on Ashland Capital Partners, visit www.ashlandcapitalpartners.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20260127325517/en/

Tom Fitzgerald, Managing Director –[email protected] Lynch, Sr. Managing Director –[email protected] White, Associate –[email protected] 

KEYWORD: ILLINOIS TEXAS UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: CONSTRUCTION & PROPERTY OTHER MANUFACTURING FINANCE STEEL CHEMICALS/PLASTICS PROFESSIONAL SERVICES OTHER CONSTRUCTION & PROPERTY MANUFACTURING

SOURCE: Ashland Capital Partners

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PUB: 01/27/2026 09:30 AM/DISC: 01/27/2026 09:30 AM

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