Lannon-based Pallet USA, a portfolio company of Brookfield-based private equity firm Blackthorne Partners, has acquired a majority of the assets of Hartford-based Goeman’s Wood Products Inc.
The new company will be known as Pallet USA. It will have the capability to manufacture new and reconditioned standard pallets, custom-sized pallets and shipping crates, as well as complete pallet repairs, engineering and design for wooden packaging or crating and pick-up and delivery.
The 65,000-square-foot Goeman’s facility in Hartford will become the company’s headquarters. It is expected the transaction will result in hiring at both locations.
Former Goeman’s owner Danny Goeman will transition into retirement. Goeman’s controller John Sonn has been named president of Pallet USA.
“With this transaction, Pallet USA is a one-stop shop for businesses in southeastern Wisconsin and beyond. We have the capacity to serve companies in the Fortune 500 range to small businesses,” Sonn said. “Along with this great product and service line-up, we promise outstanding customer care and service.”
Pallet USA plans to continue making acquisitions in the pallet industry, said Steve Balistreri, a partner at Blackthorne.
“We believe we can bring significant efficiencies to the pallet industry – efficiencies that will benefit the many market sectors that rely on pallets and crates for shipping and material handling,” Balistreri said. “This acquisition is a major step toward that goal for Pallet USA.”