Private Credit Firms to Swap Debt for Equity in Stressed 48Forty

Private credit lenders are poised to take control of pallet company 48Forty Solutions, about a year after providing $1.75 billion of debt to support Summit Partners’ acquisition of the business,...

By Olivia Fishlow, Ellen DiMauro · Bloomberg Markets

Private credit lenders are poised to take control of pallet company 48Forty Solutions, about a year after providing $1.75 billion of debt to support Summit Partners’ acquisition of the business, according to people with knowledge of the matter.