DALLAS, June 7, 2022 (Newswire.com) - Pallet Logistics of America ("PLA" or the "Company"), a portfolio company of Silver Oak Services Partners, LLC ("Silver Oak") and an asset-based pallet management services provider, has acquired Propak, a leading supply chain services provider. Founded in 1999 by Steve Clark, Propak is a leading national provider of Third-Party Logistics Services, Reverse Logistics Services, Warehousing, Transportation, and Freight Brokerage Services. With its headquarters in Ft. Smith, Arkansas, Propak employs 1,700 people at over 60 locations nationwide.
The acquisition of Propak transforms PLA from the largest pallet management services provider in the western U.S. to a national supply chain solutions provider offering Pallet Management Services, 3PL Services, Reverse Logistics Services, and Freight Brokerage & Transportation Management Services. "We are honored to join the PLA Family of Companies," said Steve Clark, President and CEO of Propak. "With a disrupted supply chain, the combined offering of the two companies provides additional product and service stability for our customers and allows us to grow into new markets."
"I'm proud to welcome Propak to the PLA Family of Companies. I've known Steve for many years, and he and the management team at Propak are innovators in the Reverse Logistics space, creating a sophisticated network of Reverse Logistics Centers, 3PLs, and a freight brokerage all designed to provide supply chain efficiencies to some of the largest retailers and manufacturers in the U.S.," said Kyle Otting, CEO of PLA. "Steve will continue to serve as President and CEO of Propak, and I look forward to Steve joining the board of PLA as we enter our next phase of growth."
Wade Glisson, Partner at Silver Oak, added, "We are excited to partner with Steve Clark and the entire team at Propak and look forward to supporting their continued growth. Propak represents the fifth strategic partnership within the PLA platform and significantly expands our footprint and service capability."
Founded in 1989 and headquartered in Dallas, Texas, PLA is a national supply chain solutions provider offering Pallet Management Services, 3PL Services, Reverse Logistics Services, and Freight Brokerage & Transportation Management Services, handling more than 115 million pallets per year for over 500 customers. Operating under the Pallet Logistics of America, Pallet Repair Services ("PRS"), Pal-Serv, Propak, Valley Pallet, and Yancey Pallet brands, PLA operates over 75 facilities across the U.S., providing a comprehensive suite of supply chain management solutions. Learn more at www.PLofA.com.
Founded in 1999, Propak is a proactive provider of leading-edge logistics, transportation and supply chain management solutions. Propak is a customer-driven company and strives to provide services that exceed its customers' expectations. The Company believes in teamwork, accountability and continually improving its service offerings, which include Reverse Logistics, Warehousing, Transportation, Packaging, and Technology solutions. In addition to offering a wide range of supply chain solutions, Propak's thought leadership is unmatched in the greater supply chain. The Company's philosophy offers flexibility, trust, and collaboration with its clients. Propak aims to provide creative and technology-forward answers to its partners' most pressing business needs. Learn more at www.propak.com.
About Silver Oak Services Partners
Founded in 2005 and based in Evanston, IL, Silver Oak Services Partners, LLC ("Silver Oak") is a lower-middle market private equity firm focused on partnering with exceptional management teams to build industry-leading business, consumer, and healthcare service companies. Silver Oak utilizes a proactive, research-led investment process to identify attractive services sectors and seek out the best potential management teams and investment opportunities. Silver Oak seeks to make control investments in leading service businesses with $15 to $150 million in revenue. The firm is currently investing out of its fourth fund, a $500 million investment vehicle. Learn more at www.silveroaksp.com.
Hillary McCutcheon, Freshwater Marketing
Source: Pallet Logistics of America