Summit Partners, a global growth equity investor, has made a significant investment in 48forty, a national provider of recycled wood pallets and pallet management services. Summit joins existing investor, Audax Private Equity, as an equal partner in 48forty.
48forty is a national provider of end-to-end pallet management services including supply, retrieval, onsite services, reverse logistics and retail services throughout the United States and Canada. The firm works to simplify pallet management for its customers while enabling recycled pallet sourcing.
“We are thrilled to welcome Summit to the 48forty team and continue our partnership with Audax as we build on our market position,” said Mike Hachtman, 48forty CEO. “We look forward to working together to accelerate 48forty’s momentum and further expand our national network with a firm commitment to delivering high-quality, reliable and comprehensive solutions for customers and suppliers around the country.”