DETROIT — Huron Capital, a lower-middle-market private equity firm, has made an additional equity investment in its pallet platform, Northwest Pallet Holdings, LLC. Through this investment, Huron is combining Northwest Pallet and Prime Woodcraft Inc.
The combined company will be headquartered in Schaumburg, Illinois. Financial terms of the transaction were not disclosed.
Northwest Pallet is a Schaumburg, Illinois-based pallet solutions company with more than 30 years of experience in recycling, manufacturing and repairing new and used pallets of various shapes and sizes. Prime, an innovative and growing pallet management service provider with nationwide coverage, is based in Brunswick, Ohio.
“This merger allows us to bring together two great commercial teams and leverage our combined capabilities to more effectively serve our clients,” said Northwest Pallet president and CEO, Jack Donnell.
“We believe Prime’s innovative approach to pallet management solutions, along with Northwest Pallet’s resources and infrastructure, will enable us to provide unique solutions and scale to our customers while continuing to expand the combined business.”
Donnell will serve as president and CEO of the combined company while Prime founder and CEO Ansir Junaid will serve as a board member and significant shareholder in Northwest Pallet.
“I’m confident in the choice to partner with Northwest Pallet, a Huron Capital portfolio company, for several reasons. Both of our companies have complementary capabilities that fit together nicely and are expected to serve as a growth platform moving forward,” said Junaid, who will be actively involved in the combined company post-closing.
“I’m proud to have been part of building and growing Prime, and I remain committed to ensuring customer relationship success well into our future.”