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Audax-backed 48forty makes two acquisitions

48forty Solutions, which is backed by Audax Private Equity, has acquired Allegheny Recycled Products and Industrial Pallet LLC, two providers of recycled wood pallets and pallet services.

48forty Solutions, which is backed by Audax Private Equity, has acquired Allegheny Recycled Products and Industrial Pallet LLC, two providers of recycled wood pallets and pallet services. No financial terms were disclosed.

PRESS RELEASE

Audax Private Equity Portfolio Company, 48forty Solutions, acquires Allegheny Recycled Products and Industrial Pallet

The Companies
Allegheny Recycled Products (“Allegheny”) and Industrial Pallet, LLC (“Industrial”) are providers of recycled wood pallets and pallet services based in Pittsburgh, PA, and Eastford, CT, respectively.

The Deal
48forty Solutions (“48forty”), a portfolio company of Audax Private Equity (“Audax”), has completed the acquisitions of Allegheny and Industrial. Both acquisitions will help grow 48forty’s national presence and expand its footprint in the Northeast United States. These deals represent the company’s fifth and sixth acquisitions since Audax’ investment.

The Thesis
In November 2020, Audax partnered with 48forty, a leading national provider of recycled wood pallets based in Alpharetta, GA. Audax will continue to work with the 48forty management team to drive further organic growth and help accelerate its acquisition strategy to expand into new geographies and service offerings.