Pallet Logistics of America Completes Acquisition of Pal-Serv; Kyle Otting, Wade Glisson, and Randy Foster Discuss
DALLAS, TX - Earlier this year, the fresh produce industry experienced a shortage of pallets that caused ripple effects throughout the market and in the retail sector. As recovery from the shortage is in full effect, Pallet Logistics of America (PLA), a portfolio company of Silver Oak Services Partners and an asset-based pallet management services provider, has announced its acquisition of Pal-Serv to spur new growth across its operations and increase its capabilities.
"Pal-Serv's impressive operations and focus on customer service have earned them strong, loyal customers in each of the communities in which they operate," said Kyle Otting, Chief Executive Officer of PLA. "Their expansive brokerage network reflects the strength of their industry relationships and national coverage. I'm delighted to welcome the Pal-Serv team to the PLA family of companies."
Pal-Serv is a pallet recycler and logistics provider that operates pallet management facilities in Dallas, Texas; Little Rock, Arkansas; Oklahoma City, Oklahoma; and Charlotte, North Carolina. According to a press release, the company was founded in 2009 and specializes in pallet repair and remanufacturing, new pallet production, pallet recovery and management systems, and logistics solutions.
"We are excited to partner with such an experienced and reputable team at Pal-Serv,” Wade Glisson, Partner at Silver Oak, added. “Since our initial investment, we've strengthened PLA's nationwide service capabilities through four highly strategic acquisitions, and we are excited to continue to expand PLA's footprint."
Through this acquisition, PLA will gain not only Pal-Serv’s four locations, but its nationwide pallet brokerage capabilities as well. This will provide a strong complement to PLA’s now 15-location, 160+ tractor, and 2,000+ trailer asset-based portfolio.
"We are honored to partner with the PLA team," said Randy Foster, President of Pal-Serv. "Our current customers will continue to see the same great local service and commitment they have grown to expect from the Pal-Serv brand, and we're looking forward to servicing new customers with PLA."
As Pal-Serv joins with PLA, we here at AndNowUKnow are left wondering what impact this acquisition will have on pallet availability across the fresh produce industry. To find out, keep clicking back to us.