Industry leader CHEP Recycled emerges from spinoff as 48forty Solutions

When Brambles Limited announced plans to divest itself of its North American recycled pallets business last August, it indicated that CHEP Recycled’s growth outlook would improve under alternative ownership.

Less than five months later, Grey Mountain Partners, a Boulder, Colo.-based private equity firm, purchased the spinoff and completed the acquisition of CHEP Recycled on February 14. The former CHEP Recycled has been renamed and rebranded as 48forty Solutions. According to a release, it is the largest pallet management services company in North America, managing 90 million pallets a year for 2,700 customers across a variety of industries.

Kyle Otting has been named chief executive officer of 48forty Solutions. The 14-year veteran of CHEP Recycled will oversee the company’s operations from its new headquarters in Atlanta, Ga. This includes more than 225 network facilities, of which 45 are company-owned and operated pallet recycling facilities, 30-plus onsite customer facilities, a fleet of 4,500 trailers, and nearly 300 power units. The company operations in Canada will continue to operate under the existing Paramount Pallet brand.

“We’re excited about our new brand, but even more excited to get back to the basics of serving our customers,” said Otting. “Our customers are at the heart of everything we do—from our technology to our plant network —everything we build is for them.”

Late last year, the company introduced a state-of-the art customer portal, Paltrax, which offers customers complete account management and the ability to place orders from their mobile device. In addition, the company has made investments in its quality management system as well as implementing lean manufacturing processes throughout its network.

48forty will continue to focus on end-to-end solutions, from pallet supply and retrieval to on-site retail services to custom sized pallets.