JANUARY 2022
Fairfield Capital Advisors (DLA Capital Advisors) served as the exclusive financial advisor to Berry Industrial Group, Inc. and Shade Lumber Company, Inc. on the transaction. “We are excited to have found the perfect partner for the Berry Industrial legacy to continue,” said Fairfield Capital Advisors Managing Director Kathleen Lauster. “Our deep experience leading transactions for family-owned businesses allowed us to navigate this deal to achieve both a high dollar bid and a partner committed to ensuring the continuation of the company’s culture.”
48forty Solutions Acquires Industrial Pallet
48forty Solutions, a portfolio company of Audax Private Equity, and a leading national provider of recycled pallets and pallet management services, recently announced that it has acquired Industrial Pallet. it marks the sixth acquisition 48forty has completed since Audax’ investment in November 2020. Terms of the transaction were not announced.
Industrial Pallet, founded in 1991 and located in Eastford, CT, is a provider and manufacturer of a wide variety of wooden pallets. With over 75 dedicated employees, the company sorts, builds, and delivers more than two million recycled wood pallets annually with their fleet of over 200 privately owned trailers. In addition to domestic services, the company offers heat treated pallets to international customers. The company is run today by Principal and owner Joe O’Brien, who joined in 1998, with operations led by Randy Therrien, Industrial Pallet’s original founder.
“The Northeast region is a key area in the pallet industry,” said Mike Hachtman, 48forty CEO.” We have been looking to expand our footprint in this region and believe the acquisition of Industrial pallet will help us to broaden our reach significantly. We are very excited about our transaction with Industrial Pallet and Joe O’Brien and feel that our common interests of taking care of our customers and employees above all else will only enhance our current offerings.”
“Forming a union with one of the nation’s largest pallet recycler and pallet services company means great things for our loyal customers, who will continue to receive top of the line treatment and service,” added Joe O’Brien, Industrial Pallet Principal. “As I move to retirement, it gives me great comfort to know that our employees will be taken care of with the respect and care that they deserve. We are honored to be a part of this great team of industry professionals.”
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Grand Rapids MI – Continuing to grow its footprint across the North-East region, national pallet recycler Kamps, Inc. Greenway Products & Services, LLC on December 27, 2021. Greenway is a full-service pallet recycler and new pallet manufacturer with three asset-based facilities in the Tri-State area. The acquisition of Greenway reinforces Kamps’ existing footprint in the North-East, and builds upon the company’s core mission of providing customer-centric pallet solutions on a national scale.
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Headquartered in New Brunswick, NJ, Greenway originated as a result of a merger in 2015 between two regional pallet recyclers: Pallets Unlimited and Generated Ltd. The merger created a single full-service pallet recycler with leadership that retains over 65 years of combined industry experience. Harnessing the capabilities of the two companies, Greenway quickly grew to become the largest pallet recycler in the tri-state area. Greenway has two locations in North New Jersey and one in Baltimore, MD. Greenway employs 225 individuals and operates 250 trailers. All employees, including the leadership team, will stay onboard.
“Greenway has been a great Kamps partner for many years. Their uncompromising service and dedication to excellence has aligned our companies well.” Said Kamps, Inc. President, Mitchell Kamps. “Together, we now have seven locations in the Northeast region to service our local, regional, and national customers. Greenway has proven success in launching greenfield sites, for example the Baltimore, MD location. For these reasons, and many more, we look forward to expanding our horizon in the North-East with this outstanding team.”