Private equity funds back acquisitions of pallet firm in Washington and a takeover by pallet firm in Arkansas.<\/p>\n\n\n\n
Private equity investors often plow millions into flashy startups and tech firms in the supply chain field, but they have lately seen comparable value in more humble logistics operations, as two wooden pallet firms were involved this week in venture-backed acquisitions.<\/p>\n\n\n\n
Investor-backed 48forty Solutions,\u00a0which has been on long string of buyouts and takeovers in recent months, carved another notch in its belt on Monday with the news that it had completed its first carve-out acquisition, purchasing the pallet recycling division\u00a0operations of\u00a0Puyallup, Washington-based Girard Wood Products.<\/p>\n\n\n\n
Terms of the deal were not disclosed, but\u00a0Alpharetta, Georgia-based 48forty\u00a0will add the unit to its broad stable of division providing recycled pallets and pallet\u00a0management services.<\/p>\n\n\n\n
And on Tuesday,\u00a0the asset-based pallet management services provider Pallet Logistics of America (PLA)\u00a0leveraged its deep-pocketed owner Silver Oak\u00a0Services Partners LLC to acquire Propak, a supply chain services provider.<\/p>\n\n\n\n
Ft. Smith, Arkansas-based Propak\u00a0is a national provider of third party logistics\u00a0(3PL), reverse logistics, warehousing, transportation, and freight\u00a0brokerage services, employing 1,700 people at over 60 locations.<\/p>\n\n\n\n
Dallas-based PLA said the move transforms it from\u00a0the largest pallet management services provider in the western U.S. to a\u00a0national\u00a0supply chain solutions provider. \u201cWe are excited to partner with [Propak founder] Steve Clark and the entire team at Propak and\u00a0look\u00a0forward to supporting their continued growth. Propak represents the\u00a0fifth strategic partnership within the PLA platform and\u00a0significantly expands\u00a0our footprint and service capability,\u201d Wade Glisson, partner at Silver Oak, said in a release.<\/p>\n\n\n\n