The private equity-backed pallet management conglomerate 48forty Solutions has cut another notch in its belt, announcing on Tuesday that it had acquired its 12th pallet provider in a two-year span.
Houston-based 48forty bought Dependable Pallet Logistics, a based pallet management company located in Southern California’s Inland Empire region. Terms of the deal were not disclosed, since 48forty is a privately held portfolio company of the investment firms Audax Private Equity and Summit Partners.
The purchase gains 48forty a business that employs more than 100 people and owns 120 dry vans and 8 flatbeds, operated from four facilities on a total of six acres. Dependable focuses on pallet recycling and the production of custom pallets for its customers across Southern California. It runs a pallet manufacturing facility, a teardown facility where recycled materials are processed, a lumber yard, and a facility for parking and storage of tractors, trailers, and excess inventory.
As one of the largest pallet management services companies in North America, 48forty Solutions controls a network of over 258 facilities, including 68 company-owned and operated pallet recycling plants, 171 onsite locations, 14 reverse logistics centers, 5 sorting centers, and more than 850 service providers. The company also operates a private fleet of more than 8,200 trailers and 500 tractors.