Audax takes controlling stake in 48forty

Audax Private Equity has acquired a controlling stake in 48forty from Grey Mountain Partners.

Audax Private Equity has acquired a controlling stake in 48forty from Grey Mountain Partners. No financial terms were based. Based in Alpharetta, Georgia, 48forty is a national end-to-end pallet management service provider. BlackArch served as sole buyout advisor to Audax on its investment.

PRESS RELEASE

CHARLOTTE, N.C. (PRWEB) JANUARY 11, 2021
BlackArch Partners (“BlackArch”) is pleased to announce that Audax Private Equity (“Audax”) has acquired a controlling interest in 48forty Solutions (“48forty” or the “Company”) from Grey Mountain Partners (“Grey Mountain”). 48forty, headquartered in Alpharetta, Georgia, is one of the largest, national end-to-end pallet management service providers in North America, serving thousands of customers who rely on the Company to consistently deliver high-quality pallets, a mission-critical component of their supply chains.

BlackArch was retained by Audax to serve as its sole buyside advisor on its investment in 48forty.

About 48forty Solutions
48forty is a national supplier of recycled pallets and related services in North America, with a network of over 225 facilities, including 44 company-operated branches and more than 180 affiliates across the U.S. and Canada. In addition to supplying recycled pallets, the Company provides on-site pallet management services to customers. 48forty serves a diverse customer base of manufacturers, distributors and retailers across numerous stable and attractive end markets. For more information, please visit http://www.48forty.com.

About Audax Private Equity
Audax Group is a leading alternative investment manager with offices in Boston, New York, and San Francisco. Since its founding in 1999, the firm has raised over $27 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $6 billion in more than 135 platforms and over 900 add-on companies, and is currently investing out of its $3.5 billion, sixth private equity fund. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 250 employees and over 100 investment professionals, the firm is a leading capital partner for North American middle market companies. For more information, visit the Audax Group website http://www.audaxgroup.com.

About Grey Mountain Partners
Grey Mountain Partners is a Boulder, Colorado-based private equity firm that focuses on partnering with management to create lasting value through operational improvements and strategic growth initiatives. Since 2003, Grey Mountain has focused on the small end of the middle-market, investing in 45 companies across a wide range of industries. For more information, please visit http://www.greymountain.com.

About BlackArch Partners
BlackArch Partners is a leading middle-market investment bank offering a full spectrum of advisory services to financial sponsors, private companies and diversified corporations. BlackArch addresses the needs of owner-operators, founders and shareholders of private companies with specialized services that include M&A advisory, strategic advisory and private capital solutions. Headquartered in Charlotte, North Carolina, BlackArch features a total of 12 industry-focused practices that cover all sectors of interest to middle-market investors; BlackArch professionals have closed more than 350 transactions in 16 countries on four continents. For more information, visit http://www.blackarchpartners.com.