MINNEAPOLIS (December 9, 2020) — Yukon Partners (“Yukon”), a provider of mezzanine capital for middle market private equity transactions, is pleased to announce that it has partnered with Audax Private Equity (“Audax”) to support the acquisition of 48forty Solutions (“48forty” or the “Company”).
48forty is one of the largest pallet management services companies in North America, with a national network of over 225 facilities, including 44 company-owned and operated plants and more than 180 affiliates. The Company provides end-to-end pallet solutions, from supply to retrieval, on-site services, reverse logistics, and retail services. Thousands of customers from various industries rely on 48forty to consistently deliver quality pallets, which are a mission-critical component of their supply chain.
Norm Plotkin, CEO of 48forty, said, “We are thrilled to be partnering with Audax as we embark on an exciting new chapter in our history. This investment will help 48forty continue to consistently deliver high-quality pallets to both national and local accounts, expand our product and service offerings, and explore strategic acquisitions to further accelerate our growth.”
“Since our initial investment in 2018, the management team has transformed 48forty into a best-in-class national provider of pallet management services,” said Aaron Arnett, Principal of Yukon. “We are pleased to continue our support of Norm and the 48forty team in this next phase of growth.”
“We enjoy working with Audax and are excited to partner with them on this investment,” added Michael Furey, Partner of Yukon. “We believe 48forty will benefit from Audax’s broad middle market experience and Buy & Build approach to accelerated growth.”
Dorsey & Whitney LLP served as legal counsel to Yukon.
48forty Solutions is one of the largest pallet management services companies in North America, with a national network of over 225 facilities, including 44 company-owned and operated plants and more than 180 affiliates. 48forty provides end-to-end pallet solutions, from supply to retrieval, on-site services, reverse logistics, and retail services. 48forty goes to market as Paramount Pallet in Canada. To learn more, visit www.48forty.com.
About Yukon Partners
Yukon Partners is an independent and unaffiliated junior capital provider, primarily serving middle market private equity sponsor led business transactions in the U.S. and Canada. The transactions in which Yukon invests include buyouts, growth and platform strategies, recapitalizations, mergers/acquisitions, and public-to-private buyouts. Yukon typically invests up to $50 million per transaction and currently manages approximately $1.5 billion across four funds. Yukon Partners has offices in Minneapolis, Minnesota and Boston, Massachusetts. For more information, please visit www.yukonpartners.com.
About Audax Private Equity
Audax Group is a leading alternative investment manager with offices in Boston, New York, and San Francisco. Since its founding in 1999, the firm has raised over $26 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $6 billion in more than 130 platforms and over 900 add-on companies, and is currently investing out of its $3.5 billion, sixth private equity fund. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 250 employees and over 100 investment professionals, the firm is a leading capital partner for North American middle market companies. For more information, visit the Audax Group website www.audaxgroup.com.
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