MAG Capital Partners and Hughes Tank Company Complete Construction of 48,000-SF Manufacturing Facility Expansion
DALLAS, Dec. 18, 2024 /PRNewswire/ -- MAG Capital Partners, LLC announced the completion of Hughes Tank Company's 48,000-square-foot facility expansion at 2900-3000 FM 157 in Venus, Texas, which greatly increases manufacturing and painting capacity. The firm purchased Hughes Tank Company along with its original 92,110-square-foot facility on 20 acres in June 2023.
"Our decision to acquire Hughes Tank was an easy one. We were impressed with the company's reputation and growth potential," said Dax T.S. Mitchell, principal of MAG Capital Partners. "MAG Capital Partners chose to immediately move forward with this expansion and other cap ex projects the day we closed."
The facility now totals 140,110 square feet, allowing Hughes Tank to increase its output and offer new product lines. The company manufactures highest-standard fuel tanks for above-ground and underground storage for a wide range of industries—including petroleum, agriculture and manufacturing—and fuel storage solutions for data centers that rely heavily on back-up power generators. Hughes Tank produces many single-wall and double-wall tank options such as UL 142, ACT-100-U, Fireguard® and Flameshield® tanks, as well as accessories and storage tank solutions for unique customer needs.
"We have invested significant capital to boost our manufacturing capabilities, while maintaining the finest product quality and durability, and our superb safety and performance track record. Added resources allow us to deliver more tanks in a shorter time frame to serve our growing client needs," said Randy Gonzalez, CEO, Hughes Tank Company.
The new space incorporates proprietary welding technology that is faster and more precise than standard welding. In addition to improving production efficiency, Hughes Tank utilizes automated cutting tables that support Hughes Tank's sustainability goals by minimizing waste materials.
"Hughes Tank never stops innovating or pursuing higher standards, embracing sustainable practices and pioneering new advancements in storage tank manufacturing," said Bobby Hughes, co-founder of Hughes Tank Company.
Recently, Hughes Tank assisted in critical hurricane relief efforts. The company shipped over 100 tanks in multiple loads, ranging from 500 to 4,000 gallons, to support emergency fuel storage needs in Florida and the Carolinas after Hurricanes Helene and Milton.
About Hughes Tank Company
Founded in 1989 and acquired by MAG Capital Partners in 2023, Hughes Tank Company started with hand-welded small tanks for local farms and businesses. Today, it operates a modern facility that produces both above- and below-ground storage tanks for the agriculture, chemical, petroleum, manufacturing and data storage industries.
About MAG Capital Partners
MAG Capital Partners investments in U.S.-based operating companies and net-leased industrial properties throughout the U.S.
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SOURCE MAG Capital Partners LLC