Investment fund buys ULD specialist CHEP
03 / 11 / 2016
CHEP Aerospace Solutions, the Unit Load Device (ULD) management specialist, is being sold to EQT Infrastructure II of Sweden.
Brambles, the Australian-based parent company of CHEP Aerospace Solutions, said that the transaction with the infrastructure fund will complete during November 2016.
CHEP Aerospace Solutions offers pooling, management, maintenance and repair of ULDs used for luggage and cargo.
Today, the business owns and manages approximately 100,000 ULDs, and serves more than 90 airlines across a network of 48 global services centres and 420 airports, supported by over 550 team members.
Brambles confirmed that the existing CHEP Aerospace Solutions leadership team remains in place. EQT Infrastructure said that it is “committed to further strengthen” CHEP Aerospace Solutions’ capabilities and to provide access to “valuable industry experience through an industrial board of directors including senior leaders with aviation expertise”.
EQT Infrastructure added that it will support the continued development of CHEP Aerospace Solutions and will “actively assist the company in capturing new growth opportunities”.
CHEP Aerospace Solutions will retain its headquarters in Switzerland, along with regional operations centres in the UK, Thailand and the US, and with global service centres in Europe, Middle East and Africa, Asia Pacific and the Americas.
At an “appropriate time” following the completion of the acquisition by EQT, CHEP Aerospace Solutions will be rebranded to have its "own unique identity".
CHEP Aerospace Solutions President Ludwig Bertsch said: "We are excited to join EQT Infrastructure, one of the world’s most respected infrastructure funds, which combines the very best people with the industry expertise in infrastructure management that will allow us to continue to grow and provide smarter solutions and unparalleled customer service to the aviation industry."
Ulrich Köllensperger, director at EQT Partners and investment advisor to EQT Infrastructure, said: "CHEP Aerospace Solutions provides critical infrastructure and services to the aviation industry and fits well with the EQT Infrastructure strategy of investing in medium sized operating infrastructure companies with opportunities for additional growth and development.
“The company [CHEP] has a proven business model, an impressive customer base and a promising pipeline of prospective airline clients. The industrial board of directors including senior leaders with aviation expertise will support CHEP Aerospace Solutions in growing its asset base and offer pooling, management, maintenance and repair to more airlines globally."
Brambles formed CHEP Aerospace Solutions in 2011 following the acquisition and integration of a number of ULD solutions companies.
Among its extensive, multi industry, investment portfolio, EQT Infrastructure has shares in Nordic Aviation Capital, EIS Aircraft