48forty Solutions, a leading national provider of recycled pallets and pallet management services, had completed its first carve-out acquisition, purchasing the pallet recycling division operations (“Pallet Recycling Division”) of Girard Wood Products. The terms of the transaction were not disclosed.
Girard Wood Products has been a trusted industry name since 1961. The Company was acquired by John Vipond in 1982 and is now owned and operated by his son Scott Vipond. Girard Wood Products manufactures new and custom pallets and recycles used pallets in multiple locations in the Pacific Northwest region of the United States. The Company’s Pallet Recycling Division sits on 11 acres in Lacey, Washington, with more than 60 employees, nine tractors, and over 175 privately owned trailers. Scott Vipond will retain ownership of the remainder of Girard Wood Products and continue his efforts to grow the new pallet manufacturing business.
Mike Hachtman, the CEO of 48forty, remarked, “Over the years, Scott Vipond and Girard Wood Products have been incredibly valuable and well-respected partners to 48forty. The Pallet Recycling Division is not only situated in a highly strategic location, but it is also highly efficient and well-run. This acquisition will allow 48forty to provide even better service to our customers in that region, many of whom are only a few short miles away from the plant.”
48forty Solutions is one of the largest pallet management services companies in North America, with a national network of over 237 facilities, including 60 company-owned and operated pallet recycling plants.
