A private equity firm has acquired the majority stake in a Lichfield pallet company, aiming to support its next phase of European expansion.
Waterland says its new strategic partnership with Palletways, a leading provider of palletised freight distribution services, will enable it to strengthen its network capabilities and invest further in technology, infrastructure and customer experience.
Fradley Park-based Palletways was founded in 1994 and operates 23 hubs across 25 countries in Europe, handling over 10 million pallets annually.
Waterland has described the transaction as an ‘important milestone in Palletways’ evolution.’
Luis Zubialde, CEO of Palletways, said: “Partnering with Waterland marks an exciting new chapter for Palletways.
“Their understanding of our sector, combined with their strong track record in supporting international growth, makes them the ideal partner for our next phase of development.
“Together, we will continue to invest in our network, our technology and our people to deliver even greater value to our customers across Europe.”
Wendy McMillan, partner at Waterland, added: “Palletways is a clear European leader in palletised freight distribution, with a proven model, a strong brand, and a highly capable management team.
“We are delighted to partner with them to support their ambitious growth plans. With their strong network, investment in technology, and operational excellence, Palletways is well positioned for the future.”
