Stout Advises Blackthorne on Sale of Pallet USA to UFPI

September 23, 2019

Stout is pleased to announce that Pallet USA, LLC, a portfolio company of Blackthorne Partners (“Blackthorne”), has been acquired by Universal Forest Products (Nasdaq: UFPI) (“UFPI”). Stout served as exclusive financial advisor to Blackthorne and Pallet USA on this transaction.

Pallet USA, headquartered in Hartford, WI, is a leader in manufacturing new and recycled wooden pallets as well as custom crates. Pallet USA’s value-added services include heat treating, pallet removal, custom product design, delivery, and managed inventory programs. Going forward, Pallet USA will operate within UFPI’s Industrial segment.

“Our new partnership with UFPI represents an ideal cultural fit for our organization,” said Bruce Church, CEO of Pallet USA. “This is a great time in the history of our company, and the entire Pallet USA team is looking forward to working with UFPI, which will enable growth benefiting both our employees and customers.”

John Syburg and Steve Balistreri Managing Directors at Blackthorne, said in a joint statement: “Stout constructed and managed a customized process focused on engaging with strategically-oriented buyers, resulting in an exceptional outcome for all. Stout provided thoughtful guidance through every step of the process.”

“The combination of Pallet USA and Universal Forest Products creates a powerful force in southeastern Wisconsin,” said John Lahti, Head of Stout’s Material Handling team. “This is an exciting partnership that will enable the combined entity to better serve companies throughout the region.”

Lahti and Conrad Hahne executed the deal for Stout.

Godfrey & Kahn served as legal counsel to Blackthorne and Pallet USA.

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