48forty Solutions expands pallet empire with Nazareth Pallet acquisition
Deal marks eighth acquisition since private equity firm took over in 2020.
North America’s largest pallet management services company has expanded its network through another acquisition, as 48forty Solutions leveraged its private equity backing to buy competitor Nazareth Pallet, the firms said Tuesday.
Alpharetta, Georgia-based 48forty has been owned since 2020 by Boston’s Audax Private Equity, and the latest deal marks its eighth acquisition during that time. Terms of the transaction were not disclosed.
48forty controls a national network of over 225 facilities—including 45 company-owned and operated plants and more than 180 affiliates—and operates a fleet of 4,500 trailers and nearly 300 power units.
By adding Northampton, Pennsylvania-based Nazareth, 48forty gains a 37-year-old pallet recycling company located on 24 acres of land, that employs over 155 people and processes over 15,000 pallets a day, delivering pallets within a 200 mile radius with its fleet of over 280 trailers.
We are proud to announce Nazareth Pallet Co. is joining the 48forty family!
— 48forty Solutions (@48forty) March 1, 2022
As we continue to grow our network, our goal is to always deliver better, more comprehensive solutions that provide unparalleled support to our customers’ supply chains. https://t.co/CSF8aHTjom