The Milwaukee-based private equity firm, Blackthorne Partners LLC, has purchased the assets of JPRS New Way, a Lannon, Wis., company that repairs and resells old pallets. With the acquisition, Blackthorne Partners has formed a new company called Pallet USA. The private equity firm says in addition to growing the business organically, it is considering strategic acquisitions of other pallet companies. The company says it owns about 120 pallet companies in Wisconsin.
Steve Balistreri, a Blackthorne partner, will be the company’s interim president. JPRS New Way’s founder Julio Alvarez will become general manager.
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