48forty Solutions, a provider of recycled pallets and pallet management services and portfolio company of Audax Private Equity and Summit Partners, has acquired Florida-based Innovative Data Systems, a software company.
Alan Miceli and Thomas Sorge, founders of IDS, created a barcode-based tracking system for pallet repair lines in the pallet industry. Recently, IDS aims to help pallet companies and sawmills gain control of their businesses and finances.
“Investing in and improving this important technology, which is vital to our industry, is one of the key drivers for this acquisition,” says Mike Hachtman, CEO of 48forty. “Not only will 48forty benefit from using the tool, but so will existing and future customers. As our industry grows and pivots to meet additional demands, this best-in-class software will be critical in supporting complex manufacturing environments associated with recycled, new, and custom pallets.”