European private equity firm Waterland Private Equity has entered a strategic partnership with Palletways, acquiring a majority stake in the palletised freight distribution network to support its next phase of European growth and operational development.
Under the agreement, Waterland will work closely with Palletways’ management team, led by CEO Luis Zubialde, to strengthen the company’s market position and expand its logistics network across Europe. The partnership is expected to accelerate Palletways’ expansion while supporting investments in technology, infrastructure, and service capabilities.
Founded in 1994, Palletways has developed into one of Europe’s largest palletised freight networks. Headquartered in Lichfield, Staffordshire in the United Kingdom, the company operates 23 hubs across 25 European countries and handles more than ten million pallets annually. Its business model combines advanced digital logistics systems with a network of local transport partners, enabling fast and cost-efficient pallet distribution across the continent.
Waterland said the investment aligns with its strategy of scaling technology-enabled logistics and industrial platforms across Europe. The firm intends to support Palletways in strengthening its operational capabilities, expanding its geographic footprint, and pursuing selective acquisitions to complement the company’s existing network.
The partnership also reflects broader structural growth drivers in the European logistics sector, including the rise of e-commerce, increasing supply chain complexity, and demand for efficient and sustainable freight solutions. Waterland highlighted Palletways’ strong market position and resilient operating model as key factors behind its decision to invest.
KEY QUOTES:
“Partnering with Waterland marks an exciting new chapter for Palletways. Their understanding of our sector, combined with their strong track record in supporting international growth, makes them the ideal partner for our next phase of development. Together, we will continue to invest in our network, our technology, and our people to deliver even greater value to our customers across Europe.”
Luis Zubialde, CEO of Palletways
“Palletways is a clear European leader in palletised freight distribution, with a proven model, a strong brand, and a highly capable management team. We are delighted to partner with them to support their ambitious growth plans. With their strong network, investment in technology, and operational excellence, Palletways is well positioned for the future.”
Wendy McMillan, Partner at Waterland Private Equity
