Brambles Ltd., a provider of supply chain and information management solutions and parent company of CHEP, has acquired Container and Pooling Solutions (CAPS), a provider of intermediate bulk containers (IBCs) and automotive containers, for $16.4 million.
“This acquisition is consistent with our strategy of growing our pooling business,” says Tom Gorman, CEO of Brambles. “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.
CAPS has experienced compound annual sales revenue growth of 14% over the past six years, according to Gorman, 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.”
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.
Brambles acquired CAPS from LF Capital Partners, a private equity fund of Lazard Alternative Investments LLC.