Tag Archives: Acquisition

Egger

EGGER Group further strengthens its position in Asia

Acquisitions, , ,

With the goal of further strengthening its own market position in Asia, the EGGER Group acquired a 25.1% stake in the Thai wood-based material manufacturer Panel Plus Co., Ltd. Sustainable international growth is an essential part of the EGGER Group’s strategic agenda. In addition to the production and distribution of its products in Europe and America, where the family company is represented with a total of 22 production plants, the Asian market is playing an increasingly important role. The purchase agreement was signed on November 30 2023 and the closing took place on January 3 2024. The parties have agreed not to disclose the purchase price and further details of the transaction.

“As a significant growth market, Asia plays an important role in our strategic considerations. We have been considering expanding our presence there for some time now. In Panel Plus, we have found the ideal partner in this respect. Panel Plus has state-of-the-art production sites and a product portfolio that is perfectly tailored to regional requirements. We are convinced that we will benefit greatly from their local expertise and will be able to exploit further growth opportunities together. We are delighted with this strategic partnership,” says Thomas Leissing, Chief Financial Officer EGGER Group and Speaker of the Group Management, explaining the background to the investment decision.

Panel Plus Co., Ltd. was founded in 1990 and today produces a wide range of wood-based materials such as chipboard and MDF boards, both laminated and unlaminated. The main production plant is located in Hat Yai in the southern Thai province of Songkhla.

Great opportunities for further development in Asia

Thailand, Malaysia and Vietnam are the core markets of Panel Plus. The core target groups are the local furniture industry and distributors. Growing market demand, state-of-the-art production technology, and the capacity of Panel Plus, combined with EGGER’s input to expand the product portfolio, form the foundation for a collaborative value creation.

The stake in Panel Plus now gives EGGER the opportunity to broaden its own market access, address additional customer target groups and further expand availability and service for them.

The EGGER Group and Panel Plus share the same convictions regarding high product and service quality, responsible production, and constant innovation. Both parties are convinced that they can successfully realise growth potential together.

To read more Egger Group posts click here.

Follow IFI on Twitter | LinkedIn | Instagram

Red Stag

Red Stag purchases TimberLab

Acquisitions, , , , ,

Surging interest in sustainable construction has seen one of New Zealand’s oldest mass timber businesses combine with one of the youngest. After 64 years in McIntosh family ownership TimberLab Solutions has joined the Red Stag group following a share sale completed last week.

TimberLab has been the company behind many of the iconic large-scale glulam and laminated veneer lumber projects in New Zealand’s history. The company also has a significant portfolio of impressive projects internationally. Recognising the need from external investment to develop and grow TimberLab, discussions were initiated with Red Stag in late 2021.

“The purchase of TimberLab was a logical fit”, says Red Stag group CEO Marty Verry. “In many ways, it brought the missing pieces of a puzzle that Red Stag has been building over the last two decades.”

Red Stag runs the country’s largest sawmill, Cross Laminated Timber (CLT) factory and a frame and truss operation, whilst TimberLab brings mass timber glulam, LVL and CLT capacity and expertise. Whilst TimberLab has been operating in Auckland since 1958, Red Stag only opened its CLT factory in Rotorua last year.

“The merger allows Red Stag to get a jump start on its growth path by combining two very capable teams and leveraging off TimberLab’s long history and institutional knowledge in the mass timber space.

“This is an exciting merger for the New Zealand building design and construction community,” adds Verry. “It means building designers and developers will be able to work with a single source for the entire building structure, and benefit from early supplier engagement to fully optimise the engineering of wooden structures to maximise advantages. This will make design and supply far simpler and more efficient than dealing with multiple suppliers.”

Verry says the group is seeing strong uptake of mass timber, driven by the desire by government and private developers to address climate change and build sustainably.

The name of the company will become ‘Red Stag TimberLab’.

Photo: Red Stag and TimberLab collaborated on the just-completed Clearwater Quays luxury apartment development

For other Red Stag related posts click here.

Follow IFI on Twitter | LinkedIn | Facebook | Instagram

Hancock Lumber

Hancock Lumber to acquire Madison Lumber Mill

Acquisitions, , , , , , , ,

Two of New England’s top performing eastern white pine manufacturing facilities will join forces reports LBM Journal, as Hancock Lumber has announced its plans to acquire Madison Lumber Mill. Hancock Lumber’s eastern white pine operations will expand to four mills with its first sawmill acquisition in over 20 years.

While Hancock Lumber will be purchasing Madison Lumber Mill following an expected Sept. 30 closing date, the Madison, New Hampshire based location will continue to operate under the Madison Lumber Mill name. The plan is to keep Madison Lumber’s employees, manufacturing systems, customer relations, and products unchanged.

“The addition of Madison Lumber is filled with synergy for both companies. The current owners, Kim Moore and Jim Smith, have built an exceptional company. When you find caring owners that are looking for an exit strategy that can preserve and perpetuate their love for their business, employees, industry, and customers — well, it’s a win-win,” said Hancock Lumber CEO, Kevin Hancock. “Hancock and Madison combine to offer a dynamic set of capabilities within the eastern white pine industry for log suppliers, customers, and employees. This is a rare opportunity, and we are excited to maximize its full potential for the benefit of everyone associated with both companies. Our commitment to eastern white pine takes a long view and this partnership enhances that view.”

Located an hour west of Hancock Lumber’s headquarters in Casco, Maine, Madison Lumber Mill is estimated to be the sixth largest manufacturer of eastern white pine. In addition to producing pine boards and products, the company operates a significant wholesale division. Current co-owners, Kim Moore and Jim Smith purchased the former International Paper mill in 2001. Hancock Lumber last acquired an eastern white pine operation when the company purchased the Chadbourne Sawmill in Bethel, Maine in 2000.

Adding this fourth mill to its portfolio will make Hancock Lumber the largest eastern white pine producer in the United States, the company says, expanding not only their manufacturing capacity, but also their talent with the addition of Madison Lumber Mill’s sales, operations, and log procurement teams. General Manager John Fuller, along with all of Madison Lumber Mill’s employees, will remain part of the team while current owners Moore and Smith will remain during a transitional period.

For other Acquisition related posts click here.

Follow IFI on Twitter | LinkedIn | Facebook | Instagram

acquisition

New Forests completes acquisition of over 100,000 acres of Northern California Forests

Acquisitions, , ,

New Forests, a global investment manager of nature-based real assets and natural capital strategies, has announced the purchase on behalf of institutional investors of an approximately 108,000-acre forestry estate in Northern California from The Michigan-California Timber Company (MCTC).

The estate consists of productive mixed conifers, including fir and pine, in the Mount Shasta region, and presents significant opportunities for Forest Stewardship Council (FSC) certified timber production, management for carbon stock protection and atmospheric carbon removal, along with continued wildlife habitat protection.

This estate is proximate to over 315,000 acres of existing forestry assets managed by New Forests in Northern California. New Forests has deployed around $500 million to date on behalf of its clients in US sustainable forestry assets and is now the second largest land manager in California.

“We are delighted to be investing in the future of California forestry where a focus on natural climate solutions can help drive positive economic, environmental and community outcomes,” says Brian Shillinglaw, Managing Director, United States for New Forests.

“We’re proud of the scale our US business has achieved in managing California and Oregon forests for sustainable FSC timber production and climate impact. Our institutional clients see the value managing forests for financial returns from both sustainable timber and carbon pricing, while positively contributing to climate change mitigation, biodiversity, and local communities. New Forests plans to manage these forests for long-term carbon stock protection and significant atmospheric carbon removal over the coming decades.”

“MCTC has sustainably managed these timberlands since 1994 and we are proud of our stewardship,” says Chris Chase, General Manager for MCTC. “Our manufacturing affiliate, Timber Products Company, looks forward to working with New Forests as a key supplier of logs through a long-term timber supply agreement.”

In 2014, New Forests was the first company to register an offset project developed under the California Compliance Offset Protocol for the Yurok Tribe.

About New Forests

New Forests is a global investment manager of nature-based real assets and natural capital strategies, with AUD 7.8 billion (USD 5.8 billion) in assets under management across 1.1 million hectares (2.7 million acres) of investments.  New Forests manages a diversified portfolio of sustainable timber plantations and conservation areas, carbon and conservation finance projects, agriculture, timber processing and infrastructure assets. We aim to generate shared prosperity for our clients and the communities in which we operate and accelerate the transition to a sustainable future.

About Michigan-California Timber Company

The Michigan-California Timber Company (MCTC) owns over 108,000 acres of timberland in Northern California. The timberlands are third party certified to the Sustainable Forestry Initiative (SFI) Standard and managed in strict compliance with the California Forest Practices Act. MCTC shares common ownership with Timber Products Company and is the largest supplier of logs to the Timber Products Company Veneer Division in Yreka, CA. MCTC benefits from strong relationships with regulatory agencies and the conservation community as it sustainably manages timberlands to produce a consistent stream of wood products and ecosystem services.

Vested Communications US

Corey Goldman
+1 416 846 7953
cgoldman@fullvested.com

 New Forests

Lauren Stewart
Head of Communications
+ 6 1437 800 340
lstewart@newforests.com.au

Photo:  Brian Shillinglaw, Managing Director, United States for New Forests

For other New Forests related posts click here.

 

Follow IFI on Twitter | LinkedIn | Facebook | Instagram

New forests

Mitsui and Nomura enter agreement to purchase New Forests

Acquisitions,

New Forests, a global investment manager of nature-based real assets and natural capital strategies, has announced Mitsui & Co., Ltd (Mitsui) and Nomura Holdings, Inc (Nomura), have entered into an agreement to purchase a 100% shareholding of New Forests.

The agreement, which is subject to regulatory approval and expected to be completed by December 2022, will see Mitsui become a 49% shareholder and Nomura a 41% shareholder, with the remaining 10% shareholding retained by New Forests’ staff. Mitsui has been a shareholder in New Forests since 2016 and will increase its shareholding from approximately 23% to 49%.

Mitsui and Nomura will provide capital to support New Forests’ strategic growth initiatives and the global expansion of its investment platform.  In addition, New Forests will leverage Nomura’s global distribution network particularly across Japan and more broadly in Asia.

Mitsui and Nomura share New Forests’ commitment to sustainability and vision to see investment in sustainable land use and forestry as central to the transition to a sustainable future—including addressing climate change and the conservation of nature; supporting the transition to a circular bioeconomy; and contributing to the prosperity of communities where New Forests operates.

Hiroshi Kakiuchi, Managing Officer, Chief Operating Officer, Performance Materials Business Unit at Mitsui said, “Mitsui’s investment in New Forests is part of our sustainability strategy to invest in companies who are at the forefront of climate change mitigation and who are positively contributing to communities. We are looking forward to our continued partnership with New Forests and supporting its next stage of growth.”

Yoshihiro Namura, Senior Managing Director, Head of Investment Management Division, at Nomura said, “We have been impressed with New Forests’ leadership and track record in sustainable forestry and land use and see New Forests’ approach to climate change being complementary to Nomura’s business. As a large global financial services group, we play a significant role in helping to solve environmental challenges, and we see investment in sustainable land use and forestry as a key part of the solution.”

As part of this agreement, founder, CEO and Chairman David Brand will continue with New Forests until 30 June 2025 and focus on strategic initiatives and growth opportunities.

David Brand, CEO of New Forests said, “New Forests has achieved a great deal over the past 17 years, growing institutional investment in the forestry asset class and re-imagining the investment opportunities in rural landscapes. The rising need to substantially increase investment in sustainable land use, along with increasing investor interest is creating an opportunity to accelerate the growth of New Forests. I am delighted to have found two partners in Mitsui and Nomura who share in our vision and will provide us the support to further scale our business and provide new opportunities for our clients, stakeholders and our 100 staff.”

Two representatives each from Mitsui and two from Nomura will join the New Forests board of directors, along with two independent directors and an employee nominee director.

Grant Samuel acted as financial advisor and Clayton Utz as legal counsel to New Forests on the transaction. Financial details of the transaction are confidential.

See other ‘New Forests’ related posts here.

 

Follow IFI on Twitter | LinkedIn | Facebook | Instagram

Mirax Group

Mirax Group to Acquire Avalon Dryland Sort in Port Mellon, BC

Acquisitions, , , ,

Mirax Group has announced that it has reached an agreement to acquire Interfor Corporation’s Avalon Dryland Log Sort (“Avalon”) assets located in Port Mellon, BC, and will operate through a wholly-owned affiliated company, Avalon Log Sort Inc. Pursuant to the Agreement, Mirax Group will acquire all real property assets of Avalon and will retain all employees.

Avalon is situated on an approximately 14-acres of fully-paved waterfront land in Port Mellon, BC, which includes approximately 55-acres of foreshore leases for log handling, booming and tie-ups. The acquisition of Avalon will provide another asset that would enable the Mirax Group to fulfill its goal of becoming a more vertically integrated forest company. Avalon will be operated as a fully custom dryland log sort and will welcome volume from other timber companies and brokers as well as Mirax’s own volume for its sawmill division on the Sunshine Coast. Having already established operations on the Sunshine Coast, this purchase will complement our recent acquisition of forested waterfront and booming grounds at Gambier Island, adjacent to Avalon.

“We are very excited with the addition of Avalon to our family. This purchase expands our existing presence on the Sunshine Coast and we look forward to welcoming Avalon’s employees to our organization.” – Jas Binning, CEO, Mirax Group.

The completion of the transaction is subject to customary conditions and is expected to close in the beginning of third quarter in 2022.

ABOUT MIRAX GROUP

The Mirax Group is a privately owned family-based company founded in 1997 and has grown to over 500 employees throughout British Columbia with operations expanding to Forestry, Lumber Manufacturing, Lumber value-added operations and Marketing, Agriculture, Real Estate and Development, and Hospitality. Our organization is about creating new relationships and our communities prospering, creating local jobs and local economic benefit, and strategic partnerships.

Media Contact Parm Binning, VP of Business Development parm@miraxgroup.ca

Bill Waugh, VP of Forestry, Log Supply (604) 807-6844 (604) 813-0779 Bill@miraxgroup.ca

 

See other Acquisition related posts here.

Follow IFI on Twitter | LinkedIn | Facebook | Instagram

Cairngorm Capital

Cairngorm Capital acquires Arnold Laver & Co. Limited

Uncategorised

Cairngorm Capital Partners acquires the leading timber merchant, Arnold Laver & Co Limited. It joins Cairngorm Capital’s other timber brands, Thornbridge, North Yorkshire Timber and Rembrand to create the largest independent timber business in the UK, with combined revenues approaching GBP 250 million, which will be known collectively as The National Timber Group.

This acquisition is Cairngorm Capital’s 16th proprietary acquisition since July 2016 and the next step in its buy and build strategy to create The National Timber Group. The Group was formed with the aim of consolidating the highly fragmented specialist UK timber merchant market.

In less than 12 months Cairngorm Capital has established a market leading timber business, with a national presence extending from the north of Scotland to London and the South West. The new enlarged Group, which consists of 52 sites and over 1300 employees, is led by Rob Barclay, Group Chief Executive, who joined the Group in June.

The Group has three divisions: a Scottish division that is headquarted in Grangemouth and led by Alex McLeod, who joined the Group as Managing Director, Scotland, in September; one comprising the Arnold Laver brand, headquarted in Sheffield and led by the Arnold Laver management team and a third, comprising the North Yorkshire timber brand and headquartered in Northallerton, is led by Nick Kershaw, Managing Director. With strong, highly trusted regional brands, each of the underlying companies will retain their existing trading names.

Arnold Laver is a family run company established in 1920. It imports, distributes and manufactures a wide range of timber, panels, decorative surfaces and joinery products, serving public and private sector construction, house-building and commercial companies.

AKD

Australia – AKD Softwoods acquires NSW sawmilling business

Uncategorised,

Associated Kiln Driers Softwoods (AKD) has confirmed that it has finalised the purchase of Carter Holt Harvey’s (CHH) New South Wales sawmilling business. The major assets of this business comprise of the Tumut sawmill, Gilmore treatment facility, a 50% interest in the Highland Pine Products (HPP) joint venture in Oberon and a distribution centre in Berkeley Vale.

The Tumut sawmill processes approximately 565,000 m3 of sawlogs producing a range of outdoor and structural products and the Gilmore treatment facility is a value adding site also located in Tumut. The HPP joint venture processes approximately 600,000 m3 of sawlog. All of the nearly 500 NSW employees will continue to be employed by the business.

AKD’s Chief Executive Officer Shane Vicary explains “we are excited to be acquiring the assets and merging the NSW people into our AKD team, the operations are well run and operated by dedicated, talented and passionate people.”

AKD Softwoods is a privately-owned Australian company with a proud history of 60 years in the forest industry, with 55 of those years as softwood sawmillers. From humble beginnings in the regional Victorian town of Colac where the head office remains, AKD as of today will have 12 operational sites across 3 states and employ over 1000 people.

“We are proud of our story, the products we produce and relationships we hold with our customers, employees, suppliers and communities” says Mr Vicary. “We see the NSW business as a strategic fit for the AKD Group as we have a long-term dedication to our industry producing timber products for the Australian market. This opportunity will provide AKD with a larger range and volume of products, and greater flexibility with multiple sites located across the eastern seaboard to offer new and existing customers superior service and supply security”.

This expansion continues AKD’s approach of growth and sustainability through strategic acquisitions and continual capital investment, cementing its commitment to the industry.

Group Lebel

Maibec sells two sawmills to Group Lebel

Uncategorised

Maibec concluded a transaction with Group Lebel of Rivière-du-Loup for their acquisition of the Maibec lumber mills located in St-Pamphile, Quebec and Masardis, Maine. The 315 employees of Maibec that are concerned by this transaction will maintain their employment with Groupe Lebel.

“Maibec will now focus on growing its pre-stained exterior siding’s systems based on lap sidings and shingles manufactured with solid wood or wood-based engineered material. Maibec recently announced the launching of the Maibec Resistech® siding systems manufactured on LP SmartSide® from Louisiana-Pacific,” added François Tardif, president of Maibec.

Maibec inc. is a family owned company from Quebec which has been involved in wood products manufacturing since 1946. Maibec is the most important Canadian manufacturer of genuine wood sidings and also the most important manufacturer of white cedar shingles in the East of North-America.

Group Lebel is a family business that has been working in forestry for over 60 years. Headquartered in Rivière-du-Loup in Lower St. Lawrence, it is deeply rooted regionally in 13 municipalities in Quebec and 2 in Ontario. Once the transaction is complete, the company will employ approximately 950 people through first, second and third transformation activities.

 

Linx

Linx Cargo Care to buy Pedersen Group

Uncategorised,

LINX Cargo Care Group, and its subsidiary C3 Limited, has announced  that it has been successful in its bid to acquire Pedersen Group, a market leading provider of wood chipping and woodyard management services to pulp and paper mills, and forest owners in Australia and New Zealand.

Pedersen Group handles over 8.3 million tonnes per annum of wood fibre across its operations, in the form of logs, wood chip and hog fuel. The company employs 140 people across Australia and New Zealand and has an existing joint venture with C3 Limited, which provides wood yard management services to customers.

LINX Cargo Care Group is delighted to enter into a purchase agreement with Pedersen Group and take the next step in the evolution of both companies, which is expected to be completed mid-August.

Pedersen Group CEO Gavin Hudson said the conditional agreement reached this week will provide the Pedersen Group with an aligned and committed long-term owner, which will enable Pedersen Group to continue to focus on providing critical services to its customers.

“We are delighted to finalise this agreement with LINX Cargo Care Group. The acquisition of Pedersen Group by LINX Cargo Care Group will provide long-term stability for our employees and customers, and the operational and financial capacity to allow our business to pursue its growth aspirations”, Mr Hudson said.

Anthony Jones, Group CEO for LINX Cargo Care Group and Chairman of C3 Limited said the acquisition of Pedersen Group brings a complementary service offering to customers, including a highly skilled workforce who specialise in wood chipping and woodyard management.

“LINX, C3 and Pedersen share a long and rich history in the forestry industry. Our combined expertise and experience will provide an enhanced customer offering, further access to capital, and the opportunityto collaborate and collectively grow into the future,” he said.

“We are very excited to welcome Pedersen Group to LINX Cargo Care’s group of companies. Pedersen’swill enable our organisation to grow its services to forest owners and wood processing businesses. In addition, Pedersen’s capabilities and services complement C3’s existing customer offering and willextend our reach to a customer base in diversified global markets.

“The synergies and strategic alignment between Pedersen’s and C3’s forestry business is significant. Importantly, our company values are closely aligned, and we very much look forward to welcomingPedersen’s talented and highly skilled workforce to the team,” Mr Jones said.

Pedersen Group will continue to operate independently under the Pedersen brand following the completion of the acquisition, and all Pedersen employees will be retained by the new owner.

Media Contact: Kate Carulli 0458 458 863 or k.carulli@linxcc.com.au
Photo: Anthony Jones, Group CEO for LINX Cargo Care Group