WALKER — Pallet recycler Kamps Inc. announced this week that it has signed a definitive purchase agreement to buy an Ohio packaging solutions provider and its subsidiaries.
The Walker-based Kamps, which is owned by Los Angeles-based private equity firm Freeman Spogli & Co., will purchase Buckeye Diamond Logistics Inc., which services 1,500 clients with pallet recycling, sales and management services. The South Charleston, Ohio-based company, which was founded in 1968, maintains 20 onsite locations and employs 1,100 full-time employees.
Already one of the nation’s largest pallet recyclers, Kamps would grow its workforce to 2,300 employees with 30 onsite operations and 300 partner locations across the U.S. with the acquisition.
“This acquisition will combine two successful and capable companies,” Kamps President Mitchell Kamps said in a statement. “The combination with BDL will bolster Kamps’ ability to provide today’s local, regional and national retailers, manufacturers and distribution customers with the most diverse product line of solutions in the marketplace.”
Terms of the deal, which is expected to close at the end of the month, were not disclosed. Kamps has now made three strategic acquisitions in 2021, and six after selling its majority stake to Freeman Spogli & Co. at the beginning of 2020.
“This will truly be a transformative opportunity for both the Kamps and BDL organizations and creates a real leader in the pallet industry,” Freeman Spogli President and Chief Operating Officer Jon Ralph said in a statement.
