Waterland Private Equity has acquired a majority stake in Palletways, one of Europe's largest pallet distribution platforms, to accelerate cross-border expansion. The UK-based logistics group operates 23 hubs across 25 European countries and handles over 10 million pallets annually. Its hybrid model combines centralised digital systems with local transport partners, enabling efficient pan-European freight distribution.

Waterland will partner with CEO Luis Zubialde and the existing management team to drive operational improvements, digital platform investments, and selective acquisitions. The investment positions Palletways to capitalize on structural growth drivers including e-commerce expansion, supply chain complexity, and demand for efficient freight solutions. For Waterland, this deal reinforces its strategy of scaling technology-enabled industrial platforms across Europe.

The partnership highlights sustained private equity interest in asset-light logistics networks that leverage digital infrastructure and pan-European scale. Wendy McMillan, Partner at Waterland, emphasized Palletways' proven model and strong management team as key factors in the investment decision. The transaction underscores the growing consolidation trend in European logistics as firms seek to capture market share in an increasingly complex supply chain environment.