Battery Ventures, a global technology-focused investment firm, announced that it has acquired two companies: Forest2Market, a firm supplying data, analytics, supply chain expertise and strategic consulting services to the global forest products industry; and Fisher International, a firm supporting the pulp and paper industry with business intelligence and strategy consulting services. Source: Timberbiz
Forest2Market and Fisher International will continue to operate individually as the transition is planned and implemented.
“We believe both Forest2Market and Fisher International are leaders in their industry, with sophisticated business intelligence platforms that offer data-intense, technology-based solutions for the global forest products industry. Combined, the companies will offer greater insight to customers and provide better customer solutions and service, while setting the stage for dynamic, profitable growth for both companies going forward,” Jordan Welu, principal at Battery Ventures said.
Mr Welu and Battery’s Dave Tabors will join Peter Stewart, founder and CEO of Forest2Market, on the board of directors. Mr Stewart will also become CEO of the combined organizations.
Rod Fisher, the founder and president of Fisher International, will step away from the day-to-day management of the company and serve as a senior advisor to both the new CEO and Fisher International customers.
The Forest2Market team and the balance of the Fisher International team will remain in place.
“I look forward to working with the Fisher International and Forest2Market teams. We believe this will create powerful new products and services and provide unprecedented global data-driven insight to our customers,” Mr Stewart said.
These acquisitions put both companies on a path to attain their long-term corporate goals.
“Forest2Market’s goal for the last five years has been to expand both internationally and across the value chain, from wood raw materials to end-products markets, and the combination of Forest2Market and Fisher International will accelerate that growth,” Mr Stewart said.
“We will continue to work with Battery to grow the companies, build out the value chain and offer the data and analytics that our forest products industry customers around the globe rely on to make complex business decisions.”
Battery Ventures said that it recognized the opportunity to join these two complementary companies as a way to increase the efficiency with which both companies deliver data, end-to-end insight, guidance and platform solutions.