CVC Credit Provides Debt for Waterland's Palletways Buy

CVC Credit provided senior debt to support Waterland Private Equity’s acquisition of Palletways, a pan-European pallet distribution network headquartered in the UK. Palletways was established in 1994 and coordinates pricing and logistics for small pallet deliveries across national and international routes using local and regional delivery firms.

Palletways operates a digitally coordinated hub-and-spoke network between member depots and central and regional pallet network hubs, moving about 9.5 million pallets each year across 25 countries through roughly 400 members and 23 hubs. The financing was made through CVC Credit’s European Direct Lending strategy, focused on senior secured lending to established European medium and large companies.