We are pleased to share the sale of our client Martin Pallet, Inc. to Burlington Capital Partners LLC. The transaction closed February 28, 2023. The transaction was completed in partnership with Martin Pallet's management and Farragut Capital Partners.
Located in Massillon, Ohio, Martin Pallet, Inc. (MPI) manufactures pallets, crates, and wood packaging products. Specifically, the company produces a wide range of recycled pallets, new pallets, custom pallets, crates, as well as lumber and wood packaging materials.
In addition, through related entities, MPI provides transportation, truck repair, and other complementary services. MPI is well known in the regional market and has an excellent reputation for the breadth of products offered, customer service, technical knowledge, and the timely delivery of products.
Burlington Capital Partners (BCP), headquartered in Chicago, Illinois, with an additional office in Cleveland, Ohio, invests in family and founder-owned, lower middle market companies. BCP serves business owners in food and other mission-critical industries.
They are equity investors that help lower middle market companies reach their potential. The firm loves food and other businesses with strong repeat purchase dynamics run by great people who have an aligned vision for growth, integrity, and community.
The investment will enable Martin Pallet to pursue growth initiatives and add-on acquisitions while providing liquidity to the owners. Richard Miller, co-owner and current CEO, will continue to lead sales and business development, and BCP partner Tim Novak will assume a CEO role designed to drive operational efficiencies.
BCP, led by partners Michael Baldwin and Tim Novak, effected a unique buyout intended to preserve Martin Pallet's culture while providing institutional capital and expertise.
"We are very excited to partner with a wonderful ownership group that has been committed to a culture of quality, customer service, and employee satisfaction for over 20 years," said Mr. Novak.
"BCP is honored to partner with such a mission-critical company and is excited to invest behind the key BCP themes of critical supply chain inputs and industry fragmentation," said Mr. Baldwin.
"Pallets physically carry 80% of US commerce and Martin Pallet's flexibility with sizing, order quantities, and speed to delivery positions it well to support business customers within its serviceable radius."
Farragut Capital Partners, located in Chevy Chase, Maryland, provided both debt financing and an equity co-investment in support of the transaction.
Alan Cuthbertson of Farragut said of the transaction: "Martin Pallet is a leader in its market, serving a critical role in its customers' supply chains. We're excited to partner with BCP and the leadership team in capitalizing on the many opportunities ahead for growth and value creation."
Generational Equity Executive Managing Director of M&A – Central Region, Michael Goss, and his team, led by Senior Managing Director M&A, Doug Smith, with the support of Managing Director, M&A, Ryan Johnson, successfully closed the deal.
"We expect this partnership to enhance the growth and legacy of the company going forward,” said Smith.
If you would like to explore other transactions our associates have supported in this industry, visit our dedicated Manufacturing & Fabrication M&A Deals page.
The information we learn from customers helps us personalize and continually improve your experience. Here are the types of information we gather.
We receive and store any information you enter on our Web site or give us in any other way. We do not sell or rent your personal information to others without your consent. We use the information we collect only for the purposes sending promotional information, enhancing the operation of our site, serving advertisements, for statistical purposes and to administer our systems. We DO NOT use third parties to provide customer service, to serve site content, to serve the advertisements you see on our site, to conduct surveys, to help administer promotional emails, or to administer drawings or contests, but reserve the right to do so in the future without advance notice.
DealForce, LLC’s affiliates are all part of one corporate family, they work with one another and may work together to provide services to you. The sharing of your information among affiliates enables DealForce to serve you more efficiently and makes it more convenient for you to do business with Generational Group. DealForce is permitted by law to share information with its affiliates. All of our affiliates follow similar privacy policies.
For reasons such as improving personalization of our service, we might receive information about you from other sources and add it to our account information.
Generational Group may license the use of its intellectual property including but not limited to its name, likeness, and logo for the use of affiliated offices. Such affiliated offices may not be owned, controlled, managed, supervised or staffed by employees, officers, or agents of Generational Group. Affiliated offices may be independently owned and operated. For more information about a particular office, please contact Generational Group at its office in Dallas, Texas.
This page may contain other proprietary notices and copyright information, the terms of which must be observed and followed.
Information on this web site may contain technical inaccuracies or typographical errors. Information may be changed or updated without notice. Generational Group may also make improvements and/or changes in the products and/or the programs described in this information at any time without notice.
Generational Group does not want to receive confidential or proprietary information from you through our web site. Please note that any information or material sent to Generational Group will be deemed NOT to be confidential. By sending Generational Group any information or material, you grant Generational Group an unrestricted, irrevocable license to use, reproduce, display, perform, modify, transmit and distribute those materials or information, and you also agree that Generational Group is free to use any ideas, concepts, know-how or techniques that you send us for any purpose.
Our computer system protects personal information using advanced firewall technology.
Information Generational Group publishes on the World Wide Web may contain references or cross references to other products, programs and services that are not announced or available in your country. Such references do not imply that Generational Group intends to announce such products, programs or services in your country. Consult a Generational Group representative for information regarding the products, programs and services which may be available to you.
Generational Group makes no representations whatsoever about any other web site which you may access through this one. When you access a non-Generational Group web site, please understand that it is independent from Generational Group, and that Generational Group has no control over the content on that web site. In addition, a link to a non-Generational Group web site does not mean that Generational Group endorses or accepts any responsibility for the content, or the use, of such web site. It is up to you to take precautions to ensure that whatever you select for your use is free of such items as viruses, worms, Trojan horses and other items of a destructive nature.
IN NO EVENT WILL Generational Group BE LIABLE TO ANY PARTY OR ANY DIRECT, INDIRECT, SPECIAL OR OTHER CONSEQUENTIAL DAMAGES FOR ANY USE OF THIS WEBSITE, OR ON ANY OTHER HYPERLINKED WEBSITE, INCLUDING, WITHOUT LIMITATION, ANY LOST PROFITS, BUSINESS INTERRUPTION, LOSS OF PROGRAMS OR OTHER DATA ON YOUR INFORMATION HANDLING SYSTEM OR OTHERWISE, EVEN IF WE ARE EXPRESSLY ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
Furthermore, all information contained within this website is the property of Generational Group.
Success, you have been added to our list.
it all started with a conference.
start your story today,
speak directly with one of our senior advisors +1-972-232-1121