Private Lenders Pitch Debt Restructuring for Pallet Company (1)

Private lenders have proposed a potential debt restructuring for 48Forty Solutions, less than a year after Summit Partners acquired a majority stake in the pallet management company, according to people with knowledge of the matter.

The company’s debt includes around $1.75 billion of private credit, said the people, who asked not to be identified discussing private information. The lenders, which include Antares Capital, KKR & Co. and BlackRock Inc., provided the financing in a recapitalization deal in October, they said.

Representatives for Antares, KKR and BlackRock declined to comment, while representatives for 48Forty and Summit didn’t respond ...