Private investment firm acquires PECO Pallet
PECO Pallet Inc has been acquired by The Pritzker Group, a private investment firm owned and controlled by J B Pritzker and Tony Pritzker.
The acquisition provides PECO Pallet with equity capital to fund the company’s continued expansion throughout the United States, Canada, and Mexico. Terms of the deal were not disclosed. This acquisition follows more than five years of growth for PECO Pallet.
“PECO Pallet’s world-class customer service and leading-edge logistics systems made the company a perfect fit for us,” said J B Pritzker, managing partner of The Pritzker Group. “Over the last several years, PECO’s management team has delivered a growth trajectory that has established the company as an industry leader. Our investment of new growth capital, plus the capital available under a new and substantially larger credit facility, will help drive key initiatives and accelerate PECO Pallet’s penetration of the rental market.”
The transaction is subject to customary closing conditions and anticipated to close by the end of first quarter 2011.
More than 95% of US grocery, warehouse, club, and discount retailers use PECO’s signature red block pallets. Headquartered in New York, the company maintains more than 300 service centers and manufacturing plants throughout the United States, Canada, and Mexico. For more information, access www.pecopallet.com.
Visit www.pritzkergroup.com for more information on The Pritzker Group.