'Stronger than its parts': PF Olsen and Forest360 unite as Stand Forestry
PF Olsen and Forest360 have merged to become New Zealand’s biggest independent forestry manager, trading as Stand Forestry.
The companies announced their merger late last year, backed by new investment from Adamantem Capital’s Environmental Opportunities Fund and supported by PF Olsen’s cornerstone investor Quayside Holdings.
Before the $60 million to $70m deal, both companies were big players in their own right.
The new brand will combine 75 years’ experience, a workforce of more than 200 skilled professionals and 480,000ha of forestry under management on both sides of the Tasman, the companies said.
Stand Forestry chief executive Dan Gaddum said the new name reflected the parties’ commitment to their stands of trees.
“By merging two leading New Zealand forestry businesses, Stand is now stronger than its parts,” he said.
“We’ve not only strengthened our core forest and harvest management expertise; we’re also well positioned to accelerate.”
He said Stand had identified opportunities to grow its carbon consulting business in Australia and New Zealand.
The company recently launched a new carbon joint venture model in New Zealand to make it easier for farmers and landowners to participate in the Emissions Trading Scheme.
Adamantem owns about half of Stand, Quayside around a quarter, with the remainder held by senior executives and current and previous staff.
The merged group has more than 1000 clients, from major institutional investors to family-run businesses and private landowners.
In 2022, Quayside Holdings – the investment vehicle for the Bay of Plenty Regional Council – bought 44% of PF Olsen from private equity firm Direct Capital, which had been a shareholder for 11 years.
PF Olsen, which has been around for more than 50 years, also has a large operation in Australia, managing 212,000ha.
Forest360, formerly known as FOMS, was established in 2004 by Mike Bartells and Peter Gresham after Fletcher Challenge Forests’ break-up.
Jamie Gray is an Auckland-based journalist, covering the financial markets, the primary sector and energy. He joined the Herald in 2011.
Take your Radio, Podcasts and Music with you
Get the iHeart App
Get more of the radio, music and podcasts you love with the FREE iHeart app. Scan the QR code to download now.
Download from the app stores
Stream unlimited music, thousands of radio stations and podcasts all in one app. iHeart is easy to use and all FREE
