Instar-backed PRT acquires US-based International Forest Company  

• International Forest Company is a producer of tree seedlings for reforestation in the US Southeast
• With the acquisition, PRT will operate 14 seed orchards and 28 nurseries, producing 630 million forest seedlings annually
• Instar Asset Management acquired PRT in 2021

PRT Growing Services, a portfolio company of Instar Asset Management, has acquired International Forest Company, a Moultrie, Georgia-based producer of tree seedlings for reforestation in the US Southeast. No financial details of the transaction were disclosed.

Patrick Mobley, CEO at IFCO, will continue to support the business as both an investor and a special advisor to PRT. IFCO’s executive team will also remain.

Based in Victoria, British Columbia, PRT is a producer of container-grown forest seedlings. It was acquired in 2021 by Instar from TriWest Capital Partners.

The acquisition of IFCO supports PRT’s strategic growth plans. As combined entity, PRT will operate 14 seed orchards and 28 nurseries, producing 630 million forest seedlings annually.

“We’re pleased to welcome a talented, innovative team that shares our passion for supporting customers’ forest regeneration and sustainability efforts,” said Randy Fournier, CEO of PRT, in a statement. “This transformative acquisition brings together two great companies to establish the only pan-North American forest seedling supplier. Together, we are excited to continue to provide premium-quality products and services to enhance the resiliency and diversity of our forests.”

Instar, formerly known as InstarAGF Asset Management, is a private equity firm focused on North American mid-market opportunities in the infrastructure sector and other alternative real asset categories. It is based in Toronto.

DLA Piper (US) and McCarthy Tétrault served as advisors to PRT. IFCO was advised by North Inlet Advisors and Coleman Talley.