48forty Solutions (“48forty”), a portfolio company of Audax Private Equity (“Audax”) and a leading national provider of recycled whitewood pallets and pallet management services, has acquired Prime360 (“Prime”). This is the second acquisition 48forty has completed under Audax ownership, following their acquisition of Relogistics in April 2021.

Headquartered in Schaumburg, Illinois, Prime360 is a leading national provider of pallet management and brokerage services offering differentiated supply chain solutions that help enhance efficiency at over 75 customer locations nationwide.

The acquisition of Prime360 will help to further enhance 48forty’s logistics services offerings and grow their national presence. Together, 48forty, Relogistics, and Prime360 will combine decades of pallet recycling and total pallet management experience to provide differentiated support to both national and local customers.

Mike Hachtman, 48forty CEO, said, “I am very excited to welcome Prime360 into the 48forty family. Prime’s retail-focused services will further expand the robust suite of pallet management solutions that our customers have come to expect. The combination of 48forty, Prime360, and Relogistics, also a 48forty company, will provide greater flexibility to grow our services to our existing customers as well as retailers across the country. The addition of Prime360’s extensive brokerage relationships allows the 48forty companies to expand our valuable pallet recycler network. Bringing together exceptional talent and years of combined industry experience will allow us to deliver differentiated, comprehensive solutions. I look forward to partnering with Jack Donnell and the rest of the Prime360 team, who share my enthusiasm to see the combined companies succeed.”

Jack Donnell, Prime360 CEO, said, “I am thrilled about this partnership and what it means for both the Prime360 customers and our employees. The union of 48forty and Prime360 will ensure continued excellence in our total pallet management and brokerage services and will bolster our ability to be forward-focused on innovation and sustainability. The complementary nature of this acquisition allows these amazing companies to continue to improve and expand the way we manage pallet services for retailers and manufacturers across the country.”

Young Lee, Managing Director, Audax Private Equity, said, “Prime360 is a leading provider of pallet management services that will further augment 48forty’s supply chain solutions. We look forward to supporting 48forty and Prime360 management as they continue to grow the business both organically as well as through strategic acquisitions.”