ALPHARETTA, Ga.--(BUSINESS WIRE)--48forty Solutions (“48forty”), a portfolio company of Audax Private Equity (“Audax”) and a leading national provider of recycled whitewood pallets and pallet management services, has acquired Prime360 (“Prime”). This is the second acquisition 48forty has completed under Audax ownership, following their acquisition of Relogistics in April 2021.
Headquartered in Schaumburg, Illinois, Prime360 is a leading national provider of pallet management and brokerage services offering differentiated supply chain solutions that help enhance efficiency at over 75 customer locations nationwide.
The acquisition of Prime360 will help to further enhance 48forty’s logistics services offerings and grow their national presence. Together, 48forty, Relogistics, and Prime360 will combine decades of pallet recycling and total pallet management experience to provide differentiated support to both national and local customers.
Mike Hachtman, 48forty CEO, said, “I am very excited to welcome Prime360 into the 48forty family. Prime’s retail-focused services will further expand the robust suite of pallet management solutions that our customers have come to expect. The combination of 48forty, Prime360, and Relogistics, also a 48forty company, will provide greater flexibility to grow our services to our existing customers as well as retailers across the country. The addition of Prime360’s extensive brokerage relationships allows the 48forty companies to expand our valuable pallet recycler network. Bringing together exceptional talent and years of combined industry experience will allow us to deliver differentiated, comprehensive solutions. I look forward to partnering with Jack Donnell and the rest of the Prime360 team, who share my enthusiasm to see the combined companies succeed.”
Jack Donnell, Prime360 CEO, said, “I am thrilled about this partnership and what it means for both the Prime360 customers and our employees. The union of 48forty and Prime360 will ensure continued excellence in our total pallet management and brokerage services and will bolster our ability to be forward-focused on innovation and sustainability. The complementary nature of this acquisition allows these amazing companies to continue to improve and expand the way we manage pallet services for retailers and manufacturers across the country.”
Young Lee, Managing Director, Audax Private Equity, said, “Prime360 is a leading provider of pallet management services that will further augment 48forty’s supply chain solutions. We look forward to supporting 48forty and Prime360 management as they continue to grow the business both organically as well as through strategic acquisitions.”
48forty Solutions is a leading pallet management services company in North America, with a national network of over 225 facilities, including 45 company-owned and operated plants and more than 180 affiliates. 48forty provides end-to-end pallet solutions, from supply to retrieval, on-site services, reverse logistics, and retail services. To learn more, visit www.48forty.com.
Prime360 is a leading total pallet management and brokerage services provider in the U.S. We help manage pallet and supply chain processes to enhance efficiency for retail, food and beverage, manufacturing, transportation, healthcare and distribution, enabling our customers to manage and ship products quickly, safely and sustainably. Prime360 experts implement best practices transparently across the supply chain, optimizing operations, facilitating risk reduction, streamlining delivery processes, lowering carbon footprints and improving profitability.
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 950 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 Private Equity website: www.audaxprivateequity.com or follow us on LinkedIn.