Waterland, a private equity business, has snapped up a majority stake in pallet distribution network Palletways, writes Carol Millett, in a deal designed to turbocharge the company’s next phase of European growth.
The acquisition – for an undisclosed sum – will see Waterland partner closely with Palletways’ management team, led by chief executive Luis Zubialde, to accelerate expansion and sharpen the group’s competitive edge.
The new backer is expected to bolster investment across technology, infrastructure and customer experience, strengthening the network’s operational firepower as it pushes deeper into key continental markets.
Announcing the transaction, Palletways said the structure of the deal has been carefully designed to support and benefit its member network. The company stressed it will continue to prioritise exceptional service delivery to members as it embarks on its next growth chapter.
Palletways CEO Luis Zubialde 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.”
Founded in 1994, Palletways has built a significant European footprint, serving thousands of customers across the UK, Germany, Italy, Iberia, the Benelux region and Hungary — and now has fresh financial muscle to expand even further.
The network is based Lichfield, Staffordshire, and operates 23 hubs across 25 countries in Europe, handling more than 10 million pallets annually.
Waterland, which was founded in 1999, has its headquarters in the Netherlands. It manages over €14bn in commitments and focuses on accelerating growth for mid-market companies through buy-and-build strategies.
Wendy McMillan, Waterland partner, added: “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.”
