BOULDER, Colo.--(BUSINESS WIRE)--Grey Mountain Partners (“Grey Mountain”) has sold 48forty Solutions, LLC (“48forty” or the “Company”) to Audax Private Equity (“Audax”). Grey Mountain partnered with the Company in February 2018 with the goal of achieving operational excellence as a standalone business by providing best in class customer and supplier service as the market leader in recycled pallets. We are grateful for the opportunity to have worked with this incredibly talented and dedicated management team and the Company’s 2,400+ employees. Piper Sandler & Co. served as exclusive financial advisor to 48forty and Grey Mountain in the transaction.
48forty is the largest national supplier of recycled pallets and related services in North America, with a national 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 www.48forty.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 more than 45 companies across a wide range of industries. The firm is investing its $425 million Fund III and is actively pursuing new investment opportunities.
For more information about Grey Mountain Partners, please visit www.greymountain.com.
About Audax Group
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 $26 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $6 billion in more than 130 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 www.audaxgroup.com.