CHEP’s recycled pallet business has a new owner and name — 48Forty Solutions — and is billing itself as the largest pallet management services company in North America.
CHEP owner Brambles Ltd. completed the sale of CHEP Recycled Pallet Solutions to private equity firm Grey Mountain Partners, Denver, in mid-February, according to a news release.
48Forty Solutions, Atlanta, draws its name the standard pallet size of 48 inches by 40 inches. The company will handle 90 million pallets a year for 2,700 customers from various industries, according to the release.
Kyle Otting, who was with CHEP Recycled for 14 years, is the 48Forty chief executive officer, overseeing 225 facilities, which includes 45 pallet recycling facilities owned and operated by the company, according to the release. There are more than 30-onsite customer facilities.
Operations in Canada will retain the Paramount Pallet brand.
“We’re excited about our new brand, but even more excited to get back to the basics of serving our customers,” Otting said in the release.
Customers can access a new online account management system, Paltrax, at www.48forty.com.
“We understand the complexity of our customers’ supply chains, and we’re here to make pallet management simple,” Otting said in the release. “We’re committed to providing cost efficient pallet solutions, the consistent quality our customers require, and a better customer experience.”
