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.
image
By Modern Materials Handling Staff
February 07, 2011 - MMH Editorial

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 Modern Materials Handling magazine

Subscribe today. It's FREE!
Find out what the world's most innovative companies are doing to improve productivity in their plants and distribution centers.
Start your FREE subscription today!

Recent Entries

MHI announced the MHI 2015 Innovation and Young Professional Award winners last night at their 70th Anniversary Celebration during ProMat 2015.

Today marks the conclusion of ProMat 2015, four days of comprehensive problem solving and networking to provide solutions to the complex manufacturing and supply chain challenges faced by industry today.

With a record 155,000 square feet of exhibit space reserved by nearly 350 companies back in December 2014, Modex 2016 will continue the show’s expansion in both solution offerings and popularity.

Doosan (Booth 662) highlighted the new BR18/20SP-7 narrow aisle reach truck, its first product in the class. It also showcased its first engine, which replaced third-party engines and is now used in all Doosan products.

During Wednesday’s afternoon keynote address, Apple co-founder Steve Wozniak, affectionately known as “The Woz,” suggested the future of technology now is every bit as uncertain to him as it was 30 years ago.

Comments

Post a comment
Commenting is not available in this channel entry.


© Copyright 2015 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA