Battery Ventures Acquires Forest2Market and Fisher International
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Battery Ventures, a global technology-focused investment firm, announced that it has acquired two companies: Forest2Market, Inc. a firm supplying data, analytics, supply chain expertise and strategic consulting services to the global forest products industry; and Fisher International, Inc. a firm supporting the pulp and paper industry with business intelligence and strategy consulting services.
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," said Jordan Welu, principal at Battery Ventures. Welu and Battery's Dave Tabors will join Peter J. Stewart, founder and CEO of Forest2Market, on the board of directors.
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," said Stewart.
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,” Stewart added. “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."
"Pete and I have worked on specific engagements over the years, and we've talked about ways our companies can work together to enhance the value we bring to all of our customers," said Fisher. "Battery Ventures 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. The synergies are clear, and I am excited to see the many advantages we will bring to our customers as a result of our working together."
Forest2Market provides pricing data, supply chain expertise and strategic consulting services to participants in the global wood and fiber supply chain. The Forest2Market's unique databases contain more than 400 million rows of transaction data; they are the foundation for all analytics available in the firm's business intelligence platform, SilvaStat360, as well as client resource studies and consulting engagements. Founded in 2000, Forest2Market is headquartered in Charlotte, N.C. To learn more, visit www.forest2market.com
Fisher International supports the pulp and paper industry with business intelligence and strategy consulting services. With research resources in nearly every pulp and paper producing country in the world, Fisher's comprehensive databases, analytical technologies and expert consultants are used by the paper industry around the world every day. Founded in 1985, Fisher is headquartered in South Norwalk, Conn. To learn more, please visit www.fisheri.com.
Battery strives to invest in cutting-edge, category-defining businesses in markets including software and services, web infrastructure, consumer internet, mobile and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to private equity and invests globally from offices in Boston, the San Francisco Bay Area, London, Israel and New York. To learn more, please visit:www.battery.com.
