• ITVI.USA
    15,097.280
    -2.920
    0%
  • OTLT.USA
    2.895
    0.003
    0.1%
  • OTRI.USA
    19.150
    0.030
    0.2%
  • OTVI.USA
    15,068.770
    -2.780
    0%
  • TSTOPVRPM.ATLPHL
    2.960
    0.380
    14.7%
  • TSTOPVRPM.CHIATL
    3.710
    0.160
    4.5%
  • TSTOPVRPM.DALLAX
    1.290
    -0.010
    -0.8%
  • TSTOPVRPM.LAXDAL
    3.720
    0.010
    0.3%
  • TSTOPVRPM.PHLCHI
    2.240
    0.100
    4.7%
  • TSTOPVRPM.LAXSEA
    4.160
    0.060
    1.5%
  • WAIT.USA
    132.000
    -5.000
    -3.6%
  • ITVI.USA
    15,097.280
    -2.920
    0%
  • OTLT.USA
    2.895
    0.003
    0.1%
  • OTRI.USA
    19.150
    0.030
    0.2%
  • OTVI.USA
    15,068.770
    -2.780
    0%
  • TSTOPVRPM.ATLPHL
    2.960
    0.380
    14.7%
  • TSTOPVRPM.CHIATL
    3.710
    0.160
    4.5%
  • TSTOPVRPM.DALLAX
    1.290
    -0.010
    -0.8%
  • TSTOPVRPM.LAXDAL
    3.720
    0.010
    0.3%
  • TSTOPVRPM.PHLCHI
    2.240
    0.100
    4.7%
  • TSTOPVRPM.LAXSEA
    4.160
    0.060
    1.5%
  • WAIT.USA
    132.000
    -5.000
    -3.6%
LogisticsNewsWarehouse

Peco Pallet to be jointly acquired by investment firm, pension fund

Alinda Capital and USS own Virginia International Gateway container port

Peco Pallet Inc., a high-profile provider of pallet rentals and services to the food service, grocery and consumer products industries, said it will be acquired by investment firm Alinda Capital Partners and USS, the largest U.K. pension fund.

The transaction, announced Monday, is expected to be concluded within the next two weeks, Irvington, New York-based Peco said in a statement. Terms of the transaction were not disclosed.

Alinda and USS jointly own the Virginia International Gateway, the largest privately held container terminal in the U.S. London-based Alinda also has an 11% ownership of London’s Heathrow International Airport. Both entities have extensive transportation and logistics experience. 

The growth of e-grocery services has boosted demand for vertically integrated firms like Peco, which builds, services and distributes its equipment. 

Privately held Peco’s North American pallet pool network consists of 21 million pallets across 80 facilities. The new owners will retain Peco’s management and operations team, it said.

Mark Solomon

Formerly the Executive Editor at DC Velocity, Mark Solomon joined FreightWaves as Managing Editor of Freight Markets. Solomon began his journalistic career in 1982 at Traffic World magazine, ran his own public relations firm (Media Based Solutions) from 1994 to 2008, and has been at DC Velocity since then. Over the course of his career, Solomon has covered nearly the whole gamut of the transportation and logistics industry, including trucking, railroads, maritime, 3PLs, and regulatory issues. Solomon witnessed and narrated the rise of Amazon and XPO Logistics and the shift of the U.S. Postal Service from a mail-focused service to parcel, as well as the exponential, e-commerce-driven growth of warehouse square footage and omnichannel fulfillment.

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