Grey Mountain offloads recycled pallets firm
BOULDER — Boulder-based private equity investor Grey Mountain Partners announced Tuesday the sale of 48forty Solutions LLC, a recycled pallet supplier that’s been in the firm’s portfolio for nearly three years, to Audax Private Equity.
“Grey Mountain partnered with the company in February 2018 with the goal of achieving operational excellence as a standalone business by providing best in class customer and supplier service as the market leader in recycled pallets. We are grateful for the opportunity to have worked with this incredibly talented and dedicated management team and the company’s 2,400 employees,” Grey Mountain said in a news release.
Piper Sandler & Co. served as exclusive financial advisor to 48forty and Grey Mountain in the transaction, terms of which were not disclosed.
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