48forty Solutions has acquired Industrial Pallet. Terms of the transaction were not disclosed.
Industrial Pallet, founded in 1991 and located in Eastford, CT, is a provider and manufacturer of a wide variety of wooden pallets. With over 75 dedicated employees, the company sorts, builds, and delivers more than two million recycled wood pallets annually with their fleet of over 200 privately owned trailers. In addition to domestic services, the company offers heat treated pallets to international customers. The company is run today by Principal and owner Joe O’Brien, who joined in 1998, with operations led by Randy Therrien, Industrial Pallet’s original founder.
Mike Hachtman, 48forty CEO, said, “The Northeast region is a key area in the pallet industry. We have been looking to expand our footprint in this region and believe the acquisition of Industrial Pallet will help us to broaden our reach significantly. We are very excited about our transaction with Industrial Pallet and Joe O’Brien and feel that our common interests of taking care of our customers and employees above all else will only enhance our current offerings.”
48forty Solutions is one of the largest pallet management services company in North America, with a national network of over 216 facilities, including 47 company-owned and operated pallet recycling plants and more than 850 service providers.
