The Pritzker Group, a private investment firm, has acquired PECO Pallet Inc. The acquisition provides PECO with substantial equity capital to fund the company's continued expansion throughout the U.S., Canada, and Mexico. Terms of the deal were not disclosed.
The Pritzkers’ acquisition follows more than five years of growth for PECO Pallet, whose signature red wood block pallets are used by companies in the consumer packaged goods industries and by U.S. retailers.
“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,” said J.B. Pritzker, managing partner of The Pritzker Group.
David Lee, CEO of PECO Pallet, added, “PECO Pallet’s acquisition by The Pritzker Group will enable our company to continue expanding throughout North America.”
The transaction is subject to customary closing conditions and is anticipated to close by the end of the first quarter of 2011.
