Quayside Holdings acquires chunk of PF Olsen

QUAYSIDE HOLDINGS HAS ACQUIRED 44% OF PF OLSEN AS OF 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 its 50th anniversary in 2021. Across New Zealand 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 the shareholder and the wider community; supporting investments while investing responsibly for strong financial returns.

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 New Zealand”.

“During Quayside’s due diligence phase we were impressed with their investment strategy and particularly how well it aligned with our strategy and growth aspirations. The partnership with Quayside will allow PF Olsen to maximise these opportunities and continue to provide strong service for our clients,” adds Ross Larcombe, PF Olsen CEO.

As a result of the investment by Quayside, PF Olsen will continue to focus on its key markets, customers and developing growth possibilities. There will also be further employment for the region, as well as opportunities for iwi and other community groups, with a strengthening of community relationships.