Kennedy Tank and Manufacturing

What Kennedy Tank and Manufacturing does

Kennedy Tank and Manufacturing Co., Inc. is a fifth-generation, family-owned industrial fabricator founded in 1898 in Indianapolis, Indiana. The company designs and manufactures custom steel storage tanks, pressure vessels, heat exchangers, reactors, and distillation columns for customers in petroleum, chemical processing, power generation, water treatment, and alternative fuels. It holds ASME U Stamp certification since 1931 and reports an installed base of more than 10,000 vessels, with shop-fabricated and field-erected tank capabilities documented at greater than 14 ft in diameter and 50,000-gallon capacity. Products are built to API 650, API 660, TEMA, and AWWA standards, and the company provides 24/7/365 field service across the U.S. Midwest with shipments extending to Canada and Mexico.

The core technology stack is conventional industrial engineering rather than software-driven: thermal and mechanical design rely on Aspen, COMPRESS, and AutoCAD, and physical fabrication is the central capability. In 2024 the company acquired Chicago Power and Process, adding LNG vaporizers to the product surface and entering the alternative fuels/energy infrastructure category adjacent to its legacy tank and pressure vessel business. Recent operational moves include a 5,000 sq ft expansion in 2023 and a 12,000 sq ft expansion in 2024 to support larger vessels and the new product line.

The business model is direct enterprise sales to EPC firms and industrial end users, with quote-based, project-specific pricing rather than tiered or recurring contracts. Revenue mechanics are tied to industrial capital project cycles, MRO demand, and field service engagements; no SaaS-style or volume subscription revenue is present. The firm is privately held with no public revenue disclosure, and headcount is reported in the 11-50 range. The 2020 transition to fifth-generation leadership under President Bill Kennedy indicates continuity of family ownership rather than a change in ownership or control structure.

Name

Kennedy Tank and Manufacturing

Legal name

Kennedy Tank and Manufacturing Co., Inc.

Website

https://kennedytank.com

Company type

Private

Founded year

1898

Operating status

Operating

Headcount range

11–50 employees

Short description

Kennedy Tank and Manufacturing is a fifth-generation, family-owned Indianapolis industrial fabricator that designs and builds custom steel storage tanks, pressure vessels, heat exchangers, and LNG vaporizers for petroleum, chemical, power, water, and alternative fuels customers.

Ownership category

akta.pro rank

Headquarters

HQ city

Indianapolis

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Marketing or Sales, Technology or R&D

Revenue model

1. Custom Fabrication Contracts: Project-based custom fabrication of storage tanks, pressure vessels, and heat exchangers to customer specifications. Revenue is generated through one-time fabrication contracts with pricing quoted based on material, complexity, and capacity requirements.
2. Field Services and Erection: On-site repair, maintenance, and field erection services. Includes tank repair, boiler repair, heat exchanger repair, plant maintenance, and field-erected tank construction. Available 24/7/365.
3. Custom Shell and Tube Heat Exchangers: Design and fabrication of custom shell and tube heat exchangers for diverse industries including petrochemical, power generation, and chemical processing.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Kennedy Tank and Manufacturing Co., Inc. is a custom steel fabricator that engineers, manufactures and field-installs large-scale carbon-steel, stainless-steel and specialty-alloy steel storage tanks (API 650, chemical and petroleum tanks), ASME-coded pressure vessels (including ammonia vessels, distillation columns and reactors) and custom shell-and-tube heat exchangers. In addition to shop fabrication, the company runs a direct field services operation providing on-site tank erection, tank/boiler/heat-exchanger repair and ongoing plant maintenance to industrial customers across the Midwest and selectively in Canada and Mexico.

Product overview

Kennedy Tank and Manufacturing is a custom fabrication company offering a portfolio of three core product lines: Steel Tanks (including API 650 Tanks, Chemical Tanks, and Petroleum Storage Tanks with UL 142, UL 2085 FIREGUARD, and FLAMESHIELD options), Pressure Vessels (ASME Pressure Vessels, Ammonia Vessels, Distillation Columns, and Reactors), and Heat Exchangers (Custom Shell & Tube Heat Exchangers). All products are custom-designed and fabricated to customer specifications. The company also provides comprehensive Field Services including on-site tank repair, boiler repair, heat exchanger repair, plant maintenance, and field-erected tank construction. The company holds ASME U Stamp certification since 1931 and serves industries including chemical, petroleum, power generation, water treatment, and alternative fuels.

Differentiator

Problem solved

Functional benefit

Products and services

• API 650 Tanks Welded steel storage tanks built to API 650 for oil, gasoline, chemical and water storage, with internal pressure up to 2.5 PSIG. Shop-fabricated up to 16 ft diameter or field-erected to 100+ ft diameter by ASME-qualified craftsmen. Sold to refineries, midstream operators, chemical plants and water utilities.
• Chemical Storage Tanks Custom chemical storage tanks built for atmospheric, high-pressure and high-temperature service in production, distribution and transportation applications. Sold to chemical processing customers needing corrosion resistance and strict code compliance.
• Petroleum Storage Tanks Aboveground and underground petroleum storage tanks, including API 650 tanks and UL 142, UL 2085 FIREGUARD and FLAMESHIELD fire-rated tanks for flammable and combustible liquids. Targeted at petroleum refineries and distribution facilities.
• ASME Pressure Vessels Custom ASME-coded pressure vessels from small carbon-steel air receivers to large-diameter, high-pressure and exotic-metal vessels for petrochemical, plastic recycling and power-plant customers.
• Ammonia Vessels High-pressure and low-temperature refrigerated vessels for anhydrous and aqueous ammonia storage, built to ASME Section VIII Division 1 for utilities, nuclear power and oil and gas industries.
• Distillation Columns Large-scale distillation columns for chemical and petroleum industries, engineered for wind and seismic compatibility with multiple material, diameter and internal options (packing, trays and supports).
• ASME Reactors ASME-code reactors with half-pipe, dimpled or conventional jackets engineered to customer heating, cooling and process requirements in chemical-processing applications.
• Custom Shell-and-Tube Heat Exchangers Custom shell-and-tube heat exchangers designed and fabricated for heating and cooling liquids and gases in petrochemical, power-generation and chemical-processing industries, built to ASME, TEMA and API 660 standards.
• Field-Erected Tanks On-site construction of large storage tanks ranging from 50,000 gallons to several million gallons for oil & gas, water treatment, chemical processing and agricultural customers; includes repairs, modifications, erection, painting, coating and testing.
• Field Services On-site industrial services including tank repair, boiler repair, heat-exchanger repair, ongoing plant maintenance and on-site repair for Midwestern US customers, available 24 hours/day, 7 days/week, 365 days/year.

Quantifiable outcome

• EMR (Experience Modification Rating) of 0.59 - significantly below industry average of 1.0
• +4 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

One partnership is on record.

• Chicago Power and ProcesscoreStrategic or Co-development Partner · 1 January 2024In 2024, Kennedy Tank acquired the rights to Chicago Power and Process, enabling the company to build LNG vaporizers for peak shaving power plants located in the United States. This acquisition extends Kennedy Tank's product capabilities into the LNG market.

Scale indicators8 records

Recent moves10 records

Expansion highlights6 records

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/kennedy-tank-and-manufacturing-co.-inc.

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kennedy Tank and Manufacturing