Wednesday, March 16, 2022
48forty Solutions, a portfolio company of Audax Private Equity is one of the leading national providers of recycled pallets and pallet management services, today announced that it has acquired Nazareth Pallet Company. This is the eighth acquisition 48forty has completed since Audax’ investment in November 2020. The terms of the transaction were not disclosed.
Established in 1984, Nazareth Pallet Company is a family-owned and operated business that is recognized as a leading supplier of recycled pallets and custom pallets in the Northeastern region of the United States. Recognizing that recycling wood scrap into landscape mulch could have a positive impact on the environment and the community, Nazareth Pallet Company invested in automation to support this service. In addition to adding new technology and new equipment, the Company purchased additional land and buildings to expand their services to customers. The Company recently upgraded its fleet of 280 trailers and expanded its workforce to meet its customers’ needs.
Mike Hachtman, 48forty CEO, said: “Expanding the 48forty footprint with the addition of Nazareth Pallet Company, was the perfect acquisition as we sought to expand in the Northeast region. As a community leader and an employer of choice, Nazareth Pallet Company shares many of the core values of 48forty and we look forward to working with George Frack, his family, and their entire team.”
George Frack, Nazareth President, said: “Our family is looking forward to becoming a part of 48forty and joining a large nationwide team of some of the best recyclers in the business. Our customers will benefit from an expansive network with a greater supply of recycled pallets and our employees will be able to enjoy a like-minded workplace culture and an opportunity for professional growth.”
48forty Solutions is one of the largest pallet management services companies in North America, with a national network of over 229 facilities, including 52 company-owned and operated pallet recycling plants, 172 onsite, retail operations, 5 sorting centers and more than 850 service providers. 48forty provides end-to-end pallet solutions from supply to retrieval, new and custom pallets, and reverse logistics services.