Dutch private equity firm Waterland has acquired a majority stake in Palletways for an undisclosed sum, in a move aimed at driving the network’s next phase of European expansion.
The acquisition, announced today (4 March), will see Waterland work closely with Palletways’ management team, led by chief executive Luis Zubialde, to build on its position.
The deal aims to strengthen Palletways’ network capabilities and aid investment in further technology, infrastructure, and customer experience.
Announcing the deal Palletways said the transaction has been structured to support and benefit the network’s members, adding that it will continue to prioritise exceptional service delivery to its member network.
Founded in 1994, Palletways has grown to serve thousands of customers across key markets including the UK, Germany, Italy, Iberia, the Benelux region and Hungary.
Its model combines advanced digital logistics systems with a network of high-quality local transport partners, enabling fast, reliable, and cost-efficient pallet distribution.
The network has its headquarters in Lichfield, Staffordshire, and operates 23 hubs across 25 countries in Europe, handling over ten million pallets annually.
Palletways hailed the partnership with Waterland as marking an important milestone in the network’s evolution.
It stated: “Waterland’s deep experience in scaling logistics, industrial services, and technology-enabled platforms across Europe will support Palletways in expanding its footprint, enhancing service capabilities, and pursuing selective acquisitions to complement its network.”
Waterland, which was founded in 1999, has its headquarters in the Netherlands. It manages over €14bn in commitments and focuses on accelerating growth for mid-market companies through buy-and-build strategies.
The company also has investments in the UK in e-commerce fulfilment company QLS and formerly with just-in-time maritime logistics provider Global Transport Solutions (GTS).
In Europe it lists Dutch logistics firms Base Logistics and Logicall, and German logistics provider Duvenbeck among its portfolio of investments.
Luis Zubialde, Palletways CEO, commented: “Partnering with Waterland marks an exciting new chapter for Palletways. Their understanding of our sector, combined with their strong track record in supporting international growth, makes them the ideal partner for our next phase of development.
“Together, we will continue to invest in our network, our technology, and our people to deliver even greater value to our customers across Europe.”
Waterland said it had selected Palletways as a partner “due to its strong market position, resilient business model, and the structural growth drivers underpinning the European logistics sector, including the rise of e-commerce, increasing supply-chain complexity, and the need for efficient, sustainable freight solutions”.
Wendy McMillan, Waterland partner, added: “Palletways is a clear European leader in palletised freight distribution, with a proven model, a strong brand, and a highly capable management team.
“We are delighted to partner with them to support their ambitious growth plans. With their strong network, investment in technology, and operational excellence, Palletways is well positioned for the future.”
