JULY 2018
Yukon Partners, a provider of mezzanine capital for middle market private equity transactions, is pleased to announce that it has partnered with Grey Mountain Partners in its investment in 48forty Solutions, formerly a division of Brambles and formerly known as CHEP Recycling.
Headquartered in Atlanta, Georgia, 48forty is the largest whitewood pallet recycler in North America, recycling over 90 million pallets annually across its network of 73 company locations and more than 225 network facilities. 48forty has approximately 2,400 employees and serves over 2,700 customers, including manufacturers, distributors and retailers in the distribution & logistics, food & beverage, packaging, durables, and non-durables industries. The Company sources used pallet “cores” from the end of supply chains, repairs the pallets, and then re-sells them to manufacturers/distributors at the top of the supply chain.
Yukon provided mezzanine capital to facilitate the transaction and acquired a minority equity interest. Dorsey & Whitney LLP served as legal counsel to Yukon.
Bill Ross, Vice President of Grey Mountain commented, “We are excited to partner with Yukon and appreciate their flexible approach as the Company enters its next phase of growth as a standalone business outside of Brambles. We believe 48forty’s reputation as the industry leader and commitment to customer excellence will position the Company nicely for continued, profitable growth.”
Aaron Arnett, Principal of Yukon, added, “We are looking forward to partnering with Grey Mountain, as well as with the management team at 48forty, to support the Company in further penetrating the North American recycled whitewood pallet market. The Company’s diverse customer and supplier base, and network of over 225 facilities across the United States and Canada, are key differentiators relative to competitors, allowing the Company to provide a comprehensive one-stop-shop solution for both national and regional customers.”
Yukon Supports Grey Mountain Partners’ Investment in 48forty Solutions