EQT Infrastructure completes CHEP acquisition
21 / 12 / 2016
Swedish equity group EQT has completed its acquisition of CHEP Aerospace Solutions, the unit load device (ULD) management company.
Switzerland-headquartered CHEP was sold to EQT by its Australia-based parent company Brambles, which established the enterprise in 2011 from the acquisition and integration of four leading ULD solutions companies.
EQT Infrastructure II, an infrastructure fund within private equity group EQT, has now completed the formal process of acquiring CHEP. Financial details have not been made public.
CHEP provides ULD pooling, management, maintenance and repair services; it currently owns and manages approximately 100,000 ULDs, supporting more than 90 airlines across a network of 48 certified repair stations and over 450 airports.
CHEP’s day-to-day business will continue to be managed by its current leadership team but they will be supported by a new board of directors, one that will bring – CHEP said in a statement – “a wealth of airline and senior management expertise”.
CHEP president Ludwig Bertsch declared: “CHEP Aerospace Solutions is going through a period of growth, and the feeling of our staff and customers is that under the new ownership we will be better equipped to keep this momentum going.
“EQT Infrastructure is eager to support the growth of our business and its financial capabilities, entrepreneurial spirit and the active involvement of such a high calibre industrial Board of Directors will definitely help us reach our objectives.”
CHEP currently makes about US$80 million a year in revenue, and EQT has said that it will “support the continued development of CHEP Aerospace Solutions and will actively assist the company in capturing new growth opportunities”.
EQT has also confirmed that CHEP will be rebranded, in order “to have its own unique identity”.