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TRANSACTION December 2020

Sale of Apical Reforestadora by IWC

Sale of Apical Reforestadora by IWC

  • IWC, as part of their strategy to wind up their Capricorn Forest Fund, started marketing their entire teak holdings in Panama during 2019
  • The teak assets are held and managed by Apical Reforestadora S.A. (”Apical”), a Panamanian entity incorporated in 2009, comprising a portfolio of 4,412 hectares of FSC certified plantation in the Panama Este and Darien region
  • Over 90 forest investors were contacted, with interests both in teak assets and in Latin American timberland
  • GreenWood Resources (part of TIAA), an asset management company specialised in the acquisition and stewardship of forestry assets, with presence in North and Latin America, Europe and Asia, agreed to acquire 100% of Apical Reforestadora
  • The acquisition will expand further both GreenWood

Poyry Capital's Role

  • Pöyry Capital acted as exclusive financial advisor to IWC and the Capricorn Forest Fund
  • Pöyry Capital was the lead advisor to the seller in the execution and negotiation of the transaction