Global pallet rental pool operator iGPS has signed an agreement for the sale of substantially all of its assets to iGPS Logistics for an undisclosed value.
According to the US-based company, iGPS Logistics is a joint venture formed by Balmoral Funds, One Equity Partners, certain of their affiliates, and Jeff and Robert Liebesman.
iGPS Logistics and its principals have relationships and resources to expand iGPS’ product offering and customer base to serve the growing needs of its customers for returnable packaging products.
iGPS CEO Dick DiStasio said iGPS Logistics has a depth of strategic and operational experience in the global returnable packaging and pallet pooling business.
"With iGPS Logistics’ financial backing and operational expertise, we look forward to continuing to provide a high-level of service to our customers," DiStasio said.
The lightweight, 100% recyclable plastic pallets and integrated technologies of iGPS yield savings in transport and production costs.