Pallet conglomerate 48forty Solutions has rolled up yet another acquisition into its portfolio of material handling equipment providers, today announcing it has bought Bo's Pallets Inc. for its ninth acquisition since landing private equity backing in 2020.
Terms of the deal were not disclosed.
Alpharetta, Georgia-based 48forty was itself acquired by the investment firm Audax Private Equity in 2020 and soon began expanding its reach. Just last week, 48forty bought the Pennsylvania company Nazareth Pallet.
By adding Adairsville, Georgia-based Bo’s Pallets, 48forty gains a company with 14 tractors and over 300 trailers, serving customers throughout the southeast region of the U.S. Bo’s operates a 22-acre Adairsville facility with 75,000 square feet of manufacturing space for recycled and specialty pallets, as well as a 30-acre McIntyre, Georgia facility with 50,000 square feet of space for lumber cutting and new pallets.
According to both firms, Bo’s also brings new expertise in automation technology, that could now be applied to additional sites across 48forty’s broad network of facilities. “We are thrilled to welcome Bo’s Pallets to the 48forty platform,” Young Lee, managing director at Audax Private Equity, said in a release. “We are excited to leverage Bo’s best-in-class automation capabilities throughout our pallet recycling network to reduce waste, increase capacity, and allow us to better service our customers and suppliers throughout the country.”