Brambles sells CHEP aerospace unit for $130m

Australian logistics outfit Brambles is to sell CHEP Aerospace Solutions to private equity group EQT Infrastructure in a deal worth US$130m, expected to be completed later this month.

CHEP was formed by Brambles in 2011 following its acquisition of four smaller container and pallet operators. It counts Qantas, AA and BA among its customers.

Brambles chief executive Tom Gorman said he believed EQT’s ownership would “continue to supply the financial and operational strength to deliver ongoing best-in-class service to CHEP’s customers”.