Brambles, a more than 125-year-old company that operates globally under the CHEP as well as the Recall names, acquired LeanLogistics for $45 million cash in March 2008.
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 U.S., Canada and Mexico.
"This acquisition is consistent with our strategy of growing our pooling business," said Brambles CEO Tom Gorman (LinkedIn) in the company's statement on the deal. "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."
Gorman said that CAPS has experienced compound annual sales revenue growth of 14 percent over the past six years and has a strong sales pipeline. "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," he added.
CAPS CEO Robert Wiedmaier (LinkedIn) said that the deal would give his company greater ability to access growth opportunities and allow it to continue providing the highest level of service to its current customers.
Brambles acquired CAPS from LF Capital Partners, a private equity fund of Lazard Alternative Investments LLC.
Last September, Brambles acquired Unitpool AG, a provider of pooled containers and pallets used by airlines for the storage of passenger baggage and cargo, for $35 million.
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