Florida-based Intelligent Global Pooling Systems (iGPS) said Thursday that the sale agreement regarding iGPS Logistics' acquisition of the company was finalized. The price agreed upon in the deal remained under wraps. 

Intelligent Global Pooling Systems, which is based in Orlando, Florida, is a company that specializes in pallet rental service. As the first of its kind, IGPS' pallet rental service utilizes easy-to-handle, 100% recyclable plastic pallets which features built-in radio frequency identification (RFID) technology.

iGPS Logistics LLC is a joint venture comprising of One Equity Partners, Balmoral Funds and Jeff & Robert Liebesman.

"We are extremely excited to have completed this transaction," remarked iGPS Logistics Chief Executive Officer Jeff Liebesman. "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."