Grey Mountain Acquires CHEP Recycled
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Grey Mountain Acquires CHEP Recycled

Grey Mountain Partners has acquired CHEP Recycled Pallet Solutions from Brambles, an Australian supply-chain logistics group.

CHEP Recycled is the largest whitewood pallet recycler in the North America, recycling over 90 million pallets annually. The company purchases used whitewood pallets, repairs them, and then re-sells the pallets to manufacturers and distributors. CHEP Recycled, with approximately 2,400 total employees, is headquartered in Atlanta, GA, and has 67 locations in the US and 6 locations in Canada. Click HERE for the CHEP Recycled website. Brambles acquired its US recycled pallet business as part of the acquisition of IFCO Systems in March 2011 and Paramount Pallet in November 2011. The unit was rebranded as CHEP Recycled in October 2014.

“The partnership with Grey Mountain is an exciting opportunity for CHEP to get back to its roots of offering simple, cost-effective pallet management solutions throughout the supply chain,” said Kyle Otting, CEO of CHEP Recycled. “Grey Mountain’s commitment to provide the resources needed to enter new markets and expand our service offering will strengthen our ability to serve our customers and offer end-to-end pallet management solutions coast-to-coast.”

“We are excited to announce the acquisition of CHEP Recycled. We believe there is a clear opportunity for the company to better serve its customers as a standalone business, and we will focus on achieving operational excellence across all 73 facilities,” said Bill Ross, a Grey Mountain Affiliate Manager. “By partnering with the management team and supporting the business with growth capital and additional resources, we hope to further grow CHEP Recycled, which is already the market leader.”

Grey Mountain has approximately $700 million of assets under management and was founded in 2003 by Managing Partners Rob Wright and Jeff Kuo. The firm invests up to $75 million in control acquisitions of companies with enterprise values between $30 million and $150 million. Sectors of interest are varied and include building products and materials; diversified manufacturing; financial services; food and beverage; health and wellness; industrial technology; packaging; professional services; specialty chemicals; transportation and logistics; and wholesale distribution. Grey Mountain is currently investing from its third fund, which was raised in 2013. The firm is based in Boulder with additional offices in Minneapolis and Pittsburgh (www.greymountain.com).

© 2018 Private Equity Professional | February 15, 2018

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