iGPS Company is Acquired by iGPS Logistics LLC
ORLANDO, Fla. – August 1, 2013 – Intelligent Global Pooling Systems (iGPS), operator of the world’s first pallet rental service featuring lightweight, 100% recyclable plastic pallets with embedded radio frequency identification (RFID) technology, announced today that it has finalized its sale to iGPS Logistics LLC, a joint venture formed by Balmoral Funds, One Equity Partners, certain of their affiliates, and Jeff and Robert Liebesman.
“We are extremely excited to have completed this transaction,” said Jeff Liebesman, the new Chief Executive of iGPS Logistics. “Our new capital structure, combined with the pooling experience brought by existing management team, Robert and myself, will enable us to enhance our current operations and expand our product offerings in the years ahead. We look forward to providing world-class service to our customers.”
“iGPS has been a true innovator with an outstanding value proposition,” added Jeff Liebesman. “The company is now well positioned to continue to pursue its mission of adding real value to our customers and to all segments of the supply chain.”
iGPS provides the world’s leading companies with the most advanced and cost-efficient platform-based shipping solutions available today. The company’s lightweight, 100% recyclable plastic pallets and integrated technologies yield game-changing savings for both manufacturers/growers and retailers—up to $5 per pallet load—thanks to dramatic savings in transport, reduced product damage and other operational efficiencies. The world’s only multi-use pallet to receive NSF Food Equipment Certification, iGPS’ platform is a major advance in supply chain hygiene—a platform that is easily cleaned, will not absorb fluids that can lead to contamination and never requires treatment with toxic pesticides or fungicides. Measuring a true 48” x 40”, iGPS’ platform enables larger load patterns and is ideally suited for automated environments. And it puts an end to broken boards and protruding nails that can damage equipment endanger workers, jam production lines and litter workplaces. An independent life cycle analysis has documented that iGPS’ solution is dramatically better for the environment than both one-way and multiuse wood pallets. Switching to iGPS is fast and easy, and the benefits begin on day one. For more information please contact us at 1-800-884-0225 or visit www.igps.net.
About Balmoral Funds
Balmoral is a private equity firm focused on investing in corporate carve-outs, restructurings and other special situations. Balmoral’s investment strategy focuses on partnering with talented management teams to invest in and revitalize companies with strong market positions that are going through a period of transition or experiencing operating or financial challenges. Balmoral targets investments in companies that have historically generated $30 million to $300 million of revenues at their peak. Balmoral has maximum structuring flexibility. Balmoral is headquartered in Los Angeles, CA and has a strong track record of investing in challenged companies and returning them to financial stability and profitable growth. For more information please visit www.balmoralfunds.com or contact Robin Nourmand at [email protected].
About One Equity Partners
One Equity Partners is the private investment arm of JPMorgan Chase & Co. and manages more than $10 billion in commitments and investments solely for the bank. OEP enters into long-term partnerships with companies to create sustainable value through long-term growth driven both organically and inorganically. Founded in 2001, OEP has over 40 investment professionals in New York, Chicago, Frankfurt, Vienna, Hong Kong and elsewhere around the globe. For more information please visit www.oneequity.com.
About Jeff and Robert Liebesman
Jeff and Robert Liebesman have over 20 years combined experience in the asset pooling business through their South African-based company Palogix International. Palogix is a market leader in providing global supply chain solutions and pooling services for returnable packaging goods, including pallets and folding and fixed plastic containers. Palogix International services an extensive range of industries throughout Southern Africa and North America.