PalEx is founded
Our story began in 1996, with the founding of PalEx, a pallet recycler with a national footprint of 62 plants in the US and Canada.
IFCO acquires PalEx
In March 2000, PalEx merged with IFCO, the largest global reusable plastic container pooling company based in Germany, forming IFCO Systems. Over the next decade, IFCO Systems’ pallet management services division grew to become the largest pallet recycler in North America, handling more than 200 million pallets each year.
Brambles acquires IFCO
IFCO Systems was acquired by Australian-based Brambles Ltd. As a result, the reusable plastic container business retained the IFCO brand, while the recycled pallet business was folded into CHEP USA and became known as CHEP Recycled Pallet Solutions.
CHEP Recycled Pallet Solutions was purchased from Brambles Ltd. by Grey Mountain Partners and rebranded as 48forty Solutions.
48forty accelerates growth
48forty Solutions partnered with Audax Private Equity to further grow product and service offerings and continue to expand the company's reach across North America.
48forty makes strategic acquisitions48forty Solutions acquired Relogistics, Prime360, Oregon Pallet, J&B Pallet, Allegheny Recycled Products, and Industrial Pallet.
48forty continues to enhance the customer experience48forty Solutions continued to enhance the customer experience through growth. In March, the company announced a growth equity investment from Summit Partners. Over the course of the year, 48forty acquired IPS Canada, Nazareth Pallet, Bo's Pallets, Pallet Consultants, Recycling Division of Girard Wood Products, CALco, Pallet-Ops, and Innovative Data Systems.
48forty expands through acquisition48forty Solutions acquired Taylor Pallets & Recycling.
Mike HachtmanChief Executive Officer
Jennifer ThomasChief of Staff
Stephen NolanChief Financial Officer
JR VernonChief Strategy Officer
Jon HeylerExecutive Vice President
Ibis ReynoldsChief Human Resources Officer
LeRoi CochranChief Operating Officer, Relogistics
Kristen StallingsChief Information Officer
Matt HuntGeneral Counsel
Our Core Value
Always Do The Right Thing