CVC Credit has provided senior debt financing for Waterland Private Equity's acquisition of Palletways, a leading pan-European pallet distribution network. The deal underscores continued private credit activity in European logistics, where stable cash flows attract institutional capital. Waterland, a specialist logistics investor, will acquire Palletways' operations across 25 countries, moving approximately 9.5 million pallets annually through its hub-and-spoke model. This transaction highlights private equity and private credit collaboration in sectors with structural growth, such as logistics infrastructure.

CVC's European Direct Lending strategy delivered the senior secured financing, reinforcing its focus on established companies with resilient demand. Waterland's Managing Director Tom Hayhurst emphasized the partnership's value in driving Palletways' growth, citing its leading market position in a structurally growing sector. The investment reflects sustained private capital interest in logistics assets, which offer predictable cash flows and long-term value appreciation potential.

This deal signals ongoing consolidation in European logistics, where private equity and credit providers target assets with defensive characteristics. The acquisition positions Waterland to leverage Palletways' digital coordination capabilities across its European footprint, potentially enhancing operational efficiency and market share in a fragmented industry.