Audax-backed 48Forty Solutions completed the acquisition of Industrie de Palettes Standard.

Audax-backed 48Forty Solutions, a whitewood pallet recycler, completed the acquisition of Industrie de Palettes Standard, a pallet management service company. Financial terms were not disclosed. "Expansion in the Canadian market is something we have long been exploring, and the strategic purchase of IPS enhances Paramount's service and commitment to its customers in the region due to its broad range of services. We are very excited about our transaction with IPS and Raed Bechara and feel that our common interests of taking care of our employees and customers will only make Paramount Pallet stronger, especially under Mark Sura’s leadership." Mike Hachtman, 48forty CEO.