Environment  January 15, 2018

Boulder private-equity firm to acquire pallet-recycling business for $115M

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SYDNEY, Australia — Grey Mountain Partners, a Boulder-based private-equity firm, has agreed to purchase a pallet-recycling business for an enterprise value of $115 million.

Grey Mountain will acquire CHEP Recycled, a unit of Sydney-based Brambles Ltd. CHEP Recycled provides a network of pallet-management services in the United States and Canada, supplying and recycling more than 90 million pallets annually.

The acquisition is expected to be completed in 45 days, pending regulatory approval. Brambles had announced its intention to sell the unit.

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CHEP Recycled manages 161 plants and total pallet management (TPM) sites, of which 73 sites service the CHEP Recycled business. Those 73 sites, together with approximately 2,400 employees, are included in the sale and will transfer to Grey Mountain Partners on completion.

Grey Mountain invests in middle-market companies across a wide range of industries and manages approximately $700 million of assets.

 

SYDNEY, Australia — Grey Mountain Partners, a Boulder-based private-equity firm, has agreed to purchase a pallet-recycling business for an enterprise value of $115 million.

Grey Mountain will acquire CHEP Recycled, a unit of Sydney-based Brambles Ltd. CHEP Recycled provides a network of pallet-management services in the United States and Canada, supplying and recycling more than 90 million pallets annually.

The acquisition is expected to be completed in 45 days, pending regulatory approval. Brambles had announced its intention to sell the unit.

CHEP Recycled manages 161 plants and total pallet management (TPM) sites, of which 73 sites service the CHEP…

Christopher Wood
Christopher Wood is editor and publisher of BizWest, a regional business journal covering Boulder, Broomfield, Larimer and Weld counties. Wood co-founded the Northern Colorado Business Report in 1995 and served as publisher of the Boulder County Business Report until the two publications were merged to form BizWest in 2014. From 1990 to 1995, Wood served as reporter and managing editor of the Denver Business Journal. He is a Marine Corps veteran and a graduate of the University of Colorado Boulder. He has won numerous awards from the Colorado Press Association, Society of Professional Journalists and the Alliance of Area Business Publishers.
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