48forty Solutions, a leading national provider of recycled pallets and pallet management services, has completed its first separate acquisition, purchasing the business of the pallet recycling division (“Pallet Recycling Division”) of Girard Wood Products. 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 at several locations in the Pacific Northwest region of the United States. The company’s pallet recycling division is located on 11 acres in Lacey, Washington, with more than 60 employees, nine tractors and more than 175 private trailers. Scott Vipond will retain ownership of the remainder of Girard Wood Products and continue efforts to develop the new pallet manufacturing business.
Mike Hachtman, CEO of 48forty, remarked, “Over the years, Scott Vipond and Girard Wood Products have been incredibly valuable and respected partners for 48forty. The Pallet Recycling division is not only located in a highly strategic location, but it is also very efficient and well managed. This acquisition will allow 48forty to provide even better service to our customers in this region, many of whom are only a few miles from the factory.
48forty Solutions is one of the largest pallet management services companies in North America, with a nationwide network of more than 237 facilities, including 60 company-owned and operated pallet recycling plants.