ALPHARETTA, Ga., March 01, 2022 – Nazareth Pallet Company has been acquired by 48forty Solutions, a portfolio company of Audax Private Equity and a leading national provider of recycled pallets and pallet management services. This is the eighth acquisition 48forty has completed since Audax’ investment in November 2020. The terms of the transaction were not disclosed.
Established in 1984, Nazareth Pallet Company is a family-owned and operated business that is recognized as a leading supplier of recycled pallets and custom pallets in the Northeastern region of the United States. Recognizing that recycling wood scrap into landscape mulch could have a positive impact on the environment and the community, Nazareth Pallet Company invested in automation to support this service.
In addition to adding new technology and new equipment, the Company purchased additional land and buildings to expand its services to customers. The Company recently upgraded its fleet of 280 trailers and expanded its workforce to meet its customers’ needs.
“Expanding the 48forty footprint with the addition of Nazareth Pallet Company, was the perfect acquisition as we sought to expand in the Northeast region,” said Mike Hachtman, 48forty CEO. “As a community leader and an employer of choice, Nazareth Pallet Company shares many of the core values of 48forty and we look forward to working with George Frack, his family, and their entire team.”
“Our family is looking forward to becoming a part of 48forty and joining a large nationwide team of some of the best recyclers in the business,” added George Frack, Nazareth President. “Our customers will benefit from an expansive network with a greater supply of recycled pallets and our employees will be able to enjoy a like-minded workplace culture and an opportunity for professional growth.”
ABOUT 48forty Solutions
48forty Solutions is one of the largest pallet management services companies in North America, with a national network of over 229 facilities, including 52 company-owned and operated pallet recycling plants, 172 onsite, retail operations, 5 sorting centers and more than 850 service providers. 48forty provides end-to-end pallet solutions from supply to retrieval, new and custom pallets, and reverse logistics services. It operates one of the nation’s largest private fleets of 5,300 trailers and over 355 power units. For more information, visit www.48forty.com or follow on LinkedIn.
ABOUT Nazareth Pallet Company
Nazareth Pallet Company is a family-owned and grown business, celebrating over 37 years of service in the pallet recycling business. Opening its doors in 1984, the company has focused on providing customers with recycled and custom pallets, and landscape mulch. Driven by customer satisfaction, Nazareth Pallet Company’s private fleet of trailers and tractors and robust workforce continue to meet the ever-changing demands of the customers in their region. For more information, visit www.nazpallet.com or visit on LinkedIn.
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 $30 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $9 billion in 150 platforms and over 1,050 add-on companies and is currently investing out of its $3.5 billion, sixth private equity fund. For more information, visit the Audax Private Equity website: www.audaxprivateequity.com or follow on LinkedIn.