NEW YORK, NY, February 08, 2023 – Kamps, Inc. ("Kamps"), one of the nation’s leading pallet organizations, announced that it has amended its senior credit facility to introduce Green Loan provisions, executing the first Green Loan for a pallet company in the United States. ING Capital LLC (“ING”) acted as sole Green Loan Structuring Agent on the transaction. Other lenders in the facility include Oaktree Capital Management, L.P., Adams Street Credit Advisors LP, Churchill Asset Management LLC, BlackRock Capital Investment Advisors, LLC, and WhiteHorse Capital.
Kamps, which has been majority-owned by U.S. private equity firm Freeman Spogli & Co. (“Freeman Spogli”) since 2019, specializes in supplying high quality recycled pallets as well as custom and new pallets. Kamps was founded in 1973 on the core philosophy of maximizing a pallet’s life cycle to create the greatest positive outcome for its customers, stakeholders and the environment. Today, Kamps’ business model continues to maximize the number of recycled pallets in circulation and provides its valued customers with flexible and sustainable supply chain solutions.
In 2021, Kamps recycled 200 million pallets through its owned and operated facilities and national network. This contributed to 10.9 million trees saved, 3.7 million tons of landfill waste diverted, and 5.6 million metric tons of CO2 emissions saved, according to Kamps’ latest Environmental Sustainability report. At the end of a pallet’s useful life, Kamps creates end-of-life byproducts such as landscape and playground mulch and wood pellets for fuel that are both environmentally friendly and minimize waste.
“The amendment of our credit facility to include Green Loan provisions serves as a key external validation of the sustainability practices that are core to our business model. Kamps was founded on green principles such as recycling and waste diversion 50 years ago, and these principles are still at the core of our strategy today,” said Kamps President Mitchell Kamps.
“The Green Loan status is a testament to not only Kamps’ commitment to sustainability, but also that sustainability is at the very core of their business model,” said Ana Carolina Oliveira, Head of Sustainable Finance, Americas, ING. “Companies are increasingly focused on the sustainability of their value chains and how to increase the circularity of their businesses. The green loan will help Kamps to continue setting new standards in resource efficiency and circularity.”
Kamps, Inc. is a full-service national pallet company delivering innovative pallet services to customers since 1973. Kamps specializes in supplying high quality wooden pallets, comprehensive pallet recycling services, and total pallet management services to diverse supply chains across the nation. With over 400 locations in its pallet network, and 61 asset-based locations, Kamps is the national leader in customer-centric supply chain services. Learn more at www.kampspallets.com.
About Freeman Spogli & Co.
Freeman Spogli & Co. is a private equity firm dedicated exclusively to investing in and partnering with management in consumer and distribution companies in the United States. Since its founding in 1983, Freeman Spogli has invested over $5.7 billion in 70 portfolio companies with an aggregate transaction value of over $28 billion and has completed over 180 add-on acquisitions with its portfolio companies. Freeman Spogli is currently making investments from FS Equity Partners VIII, L.P. Freeman Spogli has offices in Los Angeles and New York. To learn more about Freeman Spogli & Co., visit www.freemanspogli.com.
About ING Capital LLC
ING Capital LLC is a financial services firm offering a full array of wholesale financial lending products and advisory services to its corporate and institutional clients. ING Capital LLC is an indirect U.S. subsidiary of ING Bank NV, part of ING Groep NV (NYSE: ING), a global financial institution with a strong European base. The purpose of ING is empowering people to stay a step ahead in life and in business. INGs more than 58,000 employees offer retail and wholesale banking services to customers in over 40 countries. Please note that neither ING Groep NV nor ING Bank NV have a banking license in the U.S. and are therefore not permitted to conduct banking activities in the U.S.