London, 4 March 2026
European private equity firm Waterland has entered a strategic partnership with Palletways, Europe’s leading palletised freight network, to support the company’s next phase of European expansion and deliver operational excellence.
Waterland has acquired a majority stake in Palletways and will work closely with the Company’s management team, led by CEO Luis Zubialde, to build on its position as Europe’s largest and most trusted palletised freight network. The partnership will enable Palletways to accelerate its expansion across Europe, strengthen its network capabilities, and invest further in technology, infrastructure, and customer experience. The transaction has been structured to support and benefit Palletways’ members, with the business continuing to prioritise exceptional service delivery to its member network.
Founded in 1994, Palletways has grown to serve thousands of customers across key markets including the UK, Germany, Italy, Iberia, the Benelux region and Hungary. Its model combines advanced digital logistics systems with a network of high‑quality local transport partners, enabling fast, reliable, and cost‑efficient pallet distribution. With headquarters in Lichfield, Staffordshire, UK, Palletways operates 23 hubs across 25 countries in Europe, handling over ten million pallets annually.
The Company’s continued investment in digital platforms, such as Palletways Portal, has enabled real‑time tracking and enhanced operational efficiency, supporting Palletways’ position as a leader in palletised freight distribution.
Strengthening a European success story
The partnership with Waterland marks an important milestone in Palletways’ evolution. Waterland’s deep experience in scaling logistics, industrial services, and technology‑enabled platforms across Europe will support Palletways in expanding its footprint, enhancing service capabilities, and pursuing selective acquisitions to complement its network.
Waterland is an experienced investor in these areas with a strong track record across Europe, demonstrated by its partnerships with among others leading e-commerce fulfilment company QLS and formerly with just-in-time maritime logistics provider GTS (Global Transport Solutions).
Luis Zubialde, CEO of Palletways, commented: “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”.
A platform for long‑term, sustainable growth
Waterland selected Palletways as a partner due to its strong market position, resilient business model, and the structural growth drivers underpinning the European logistics sector, including the rise of e‑commerce, increasing supply‑chain complexity, and the need for efficient, sustainable freight solutions.
Wendy McMillan, Partner at Waterland, said: “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.”