November 20, 2024 (press release) –
Houston, TX – November 13, 2024 – 48forty Solutions (“48forty”), a leading national provider of recycled wood pallets and comprehensive total pallet management services, today announced the completion of a recapitalization transaction with the support of 48forty’s existing lenders and the company’s majority equity owners. This transaction enhances 48forty’s financial flexibility and provides additional liquidity empowering the company to drive strategic growth initiatives, further invest in innovative solutions for retailers, manufacturers, and supply chain customers and bridge to an industry-wide recovery.
48forty is a leading national provider of end-to-end pallet management solutions, including supply, retrieval, on-site services, reverse logistics, and retail services, across the United States and Canada. 48forty’s solutions are designed to simplify pallet management operations and allow customers to source recycled pallets when and where they are needed.
Following the transaction, 48forty will be majority-owned by Summit Partners. 48forty’s operational and leadership teams led by CEO Mike Hachtman remain in place to focus on delivering high-quality, reliable, and comprehensive solutions for its customers across the country.
Mike Hachtman, 48forty CEO, said: “We are thrilled to continue our partnership with Summit and to expand our collaboration with our lenders. This transaction will help us focus on innovation, which is essential for a sustainable future. We are committed to developing services that simplify operations, reduce costs, and support the evolving needs of our customers across North America.”
Advisors
Kirkland & Ellis LLP served as legal advisor and Moelis & Company LLC served as investment banker to 48forty.
About 48forty
48forty is the largest pallet management services company in North America, with a national network of over 251 facilities, including 73 company-owned and operated pallet recycling plants, 160 onsite and offsite locations, 14 reusable asset depots, 4 service centers, and more than 850 partners. We also operate our own fleet of more than 8,000 trailers and tractors servicing customers from coast to coast. We provide end-to-end pallet solutions, from supply to retrieval, onsite and offsite services, and reverse logistics. 48forty solutions is truly Pallet Management Made Simple™. For more information, visit www.48forty.com or follow us on LinkedIn.
Media Contacts
Natalya Calleja
VP of Communications and Marketing
48forty Solutions, LLC
Phone: (813) 317-0382
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