Brambles acquires CAPS
Container and Pooling Solutions offers sustainable pooling solutions and associated managed services to customers in the automotive and industrial sectors in the United States, Canada and Mexico.
Latest NewsFedEx partners with Vecna Robotics as part of automation growth strategy Most recent Freight TSI is strong, says BTS AAR reports strong U.S. carload and intermodal gains for week ending March 17 Gartner’s 2018 Magic Quadrant Names Kuebix as Prominent TMS Player Meet the 2018 Modern Show Daily team More News
Latest ResourceWarehouse Management Systems (WMS) / Inventory Management Technology: 6 Trends for the Modern Age Here’s how the next generation of warehouse and inventory management systems are evolving to help logistics operations operate more efficiently and improve their bottom lines in our brave, new digital age.
Brambles Limited has announced its acquisition of Container and Pooling Solutions (CAPS), a United States-based provider of intermediate bulk containers (IBCs) and automotive containers, for $16.4 million.
Brambles CEO Tom Gorman said: “This acquisition is consistent with our strategy of growing our pooling business. It will strengthen our IBC and automotive operations in North America and, in the longer term, support our global network and our access to intercontinental product flows.” Brambles is a provider of supply chain and information management solutions through its two primary businesses, CHEP and Recall. Brambles employs more than 12,000 people in 47 countries.
“CAPS is a well-run business, which has experienced compound annual sales revenue growth of 14% over the past six years and has a strong sales pipeline,” said Gorman. “CAPS’ executive leadership team, which has considerable industry expertise, will remain with the business to drive its next phase of growth, as part of Brambles.”
Headquartered in Michigan and founded in 1998, CAPS’ network comprises eight service centers offering sustainable pooling solutions and associated managed services to customers in the automotive and industrial sectors in the USA, Canada and Mexico.
CAPS CEO Robert Wiedmaier said: “The CAPS team is delighted to have become part of the global Brambles group. This transaction will give us greater ability to access the considerable growth opportunities that lie ahead and allow us to continue to provide the highest level of service to our customers.”
Brambles acquired CAPS from LF Capital Partners, a private equity fund of Lazard Alternative Investments LLC.
In November 2010, Brambles Limited, the parent company of CHEP, announced the planned acquisition of IFCO Systems, a leading provider of reusable plastic containers (RPCs) in 23 countries, and pallet management services in the USA. The transaction would enhance Brambles’ position as a global leader in pooling solutions, creating an entity with sales revenue of approximately $5 billion.
Subscribe to Logistics Management Magazine!Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your entire logistics operation.
Start your FREE subscription today!
Reverse Logistics in the “Age of Entitlement” Logistics Management’s Viewpoint on E-commerce: Leveraging available tools View More From this Issue