Lake City, MN – J&B Pallet, LLC has been acquired by 48forty Solutions, LLC, a portfolio company of Audax Private Equity. Hennepin Partners acted as J&B Pallet’s exclusive financial advisor and Lathrop GPM served as legal counsel. The transaction closed on October 12, 2021. Terms of the transaction were not disclosed.
Since its founding in 1990 by owner and CEO Rick Ziebell, J&B Pallet has grown to become one of the Upper Midwest’s leading pallet manufacturers and recyclers. The company operates four production facilities and three pallet recycling facilities with 230 employees, 400 trailers, and thirty power units. J&B Pallet supports a wide range of industries and is a leader in automation.
48forty is one of the largest pallet management services companies in North America with a national network of over 218 facilities including 46 company-owned and operated plants 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. 48forty Solutions also operate one of the nation’s largest private fleets of 4,500 trailers and nearly 300 power units.