HOUSTON, November 29, 2022--(BUSINESS WIRE)--48forty Solutions ("48forty"), a leading national provider of recycled pallets and pallet management services, today announced that it has acquired Southern California-based pallet management company Dependable Pallet Logistics. ("Dependable" or the "Company"). The terms of the transaction were not disclosed. 48forty is a portfolio company of Audax Private Equity ("Audax") and Summit Partners ("Summit").
Dependable is an Inland Empire-based pallet management company established in 1995 by Eva Sanchez. In 2011, Cain Sanchez assumed ownership of the Company. Dependable has grown steadily since that time and today employs more than 100 people. The Company focuses on pallet recycling and the production of custom pallets for its customers across Southern California, which it services via four facilities on a total of six acres. The Company operates a pallet manufacturing facility, a teardown facility where recycled materials are processed, a lumber yard, and a facility for parking and storage of tractors, trailers, and excess inventory. Dependable owns and operates 120 dry vans and 8 flatbeds.
Dependable Pallet’s goal is to provide customers with solutions to meet all of their pallet needs. The Company recently invested in two robotic pallet dismantlers and an urban sawmill to support its custom pallet orders, as well as a pallet production line, providing increased volumes and faster service to its customers.
Mike Hachtman, CEO of 48forty, remarked, "We are pleased to welcome Cain and Dependable Pallet to the 48forty Solutions family. The acquisition helps us to expand our ability to provide seamless and complete pallet solutions to our customers throughout Southern California."
Cain Sanchez, owner of Dependable, said "Dependable Pallet Logistics would not be in the position it is today without the dedication and hard work of our employees. They helped us to establish a business that supports industry across Southern California. Becoming a part of 48forty Solutions will provide us with resources to help expand our reach in the market and provide faster turnaround times for our customers."
About 48forty Solutions
48forty Solutions is one of the largest pallet management services companies in North America, with a national network of over 258 facilities, including 68 company-owned and operated pallet recycling plants, 171 onsite locations, 14 reverse logistics centers, 5 sorting centers, and more than 850 service providers. 48forty provides end-to-end pallet solutions from supply to retrieval, recycled, new, and custom pallets, and reverse logistics services. We also operate one of the nation’s largest private fleets of more than 8,200 trailers and 500 tractors. 48forty is backed by Summit Partners and Audax Private Equity. For more information, visit 48forty.com or follow us on LinkedIn.
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