PF Olsen announces new investment partnership
Friday 17 Jun 2022PF Olsen and Quayside Holdings (Quayside) are proud to announce Quayside has acquired 44% of PF Olsen, with the deal closing on 10 June 2022. Direct Capital is selling its shareholding after 11 years as a shareholder.
PF Olsen is a leading provider of independent professional forestry services and celebrated their 50th anniversary in 2021. Across NZ and Australia, PF Olsen manages 372,000 hectares of forest, harvesting 5.1 million m³ of logs each year as well as planting 14 million trees per annum.
Quayside, as the investment arm of the Bay of Plenty Regional Council, focuses on commercial returns for their shareholder and the wider community; supporting impactful investments while investing responsibly for strong financial returns for generations to come.
Quayside’s Chief Investment Officer, Brendon Barnes, says “this transaction is the result of a thorough due diligence process. Quayside sees a number of compelling growth opportunities in the forestry sector and the investment in PF Olsen will be the catalyst for many of these. PF Olsen is a household name with a long legacy; we are excited to work alongside the strong management team to grow the company for the benefit of our community and NZ”.
Through their investment in PF Olsen, Quayside will appoint two Board Directors with complimentary skill sets to the PF Olsen Board.
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