Private credit lenders to take equity control of 48Forty Solutions

Private credit lenders to take equity control of 48Forty Solutions

A consortium of private credit investors, including Antares Capital, KKR, BlackRock, and Carlyle Group, is preparing to convert debt into equity at 48Forty Solutions, roughly a year after backing Summit Partners’ $1.75bn acquisition of the pallet company, according to a report by Bloomberg citing unnamed sources familiar with the matter. Under the plan, which is expected to close by year-end, the group would swap a substantial portion of the com…