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M&A Deal Summary

Mitsui & Co and Nomura Holdings Acquire New Forests

On May 20, 2022, Mitsui & Co and Nomura Holdings acquired forest products company New Forests from Angeleno Group and Mitsui & Co

Acquisition Highlights
  • This is Mitsui & Co’s 2nd and Nomura Holdings’ 1st transaction in the Forest Products sector.
  • This is Mitsui & Co’s 6th and Nomura Holdings’ 1st transaction in Australia.

M&A Deal Summary
Date 2022-05-20
Target New Forests
Sector Forest Products
Buyer(s) Mitsui & Co
Nomura Holdings
Sellers(s) Angeleno Group
Mitsui & Co
Deal Type Add-on Acquisition

Target

New Forests

Sydney, Australia
New Forests operates and manages investments in sustainably managed timberland and associated eco products, such as carbon credits, biodiversity credits, and mitigation banks. New Forests was founded in 2005 and is based in Sydney, Australia.

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Buyer(S) 2

Buyer

Mitsui & Co

Tokyo, Japan
Category Company
Founded 1947
Sector Diversified
Employees56,400
Revenue 14.66T JPY (2025)
DESCRIPTION

Mitsui & Co engages in the export, import, wholesale, and retail of steel products; steel processing; mining and sale of iron ores; and sale and trading of ferrous scrap and alloy products and chemicals, energy, food, food & retail management, healthcare & service, consumer business, IT & communication business, corporate development business. Mitsui & Co was founded in 1947 and is based in Tokyo, Japan.

DEAL STATS #
Overall 36 of 51
Sector: Forest Products M&A 2 of 2
Type: Add-on Acquisition M&A Deals 17 of 21
Country: Australia M&A 6 of 6
Year: 2022 M&A 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-09 Mainstream Renewable Power

Dublin, Ireland

Mainstream Renewable Power is a wind development business. Mainstream has partnered with Siemens Power Ventures on the 4GW Hornsea wind farm development offshore UK. Mainstream Renewable Power was founded in 2008 and is based in Dublin, Ireland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-28 Xurya

Jakarta, Indonesia

Xurya is engaged in the development of distributed solar assets for C&I customers, a company in the distributed solar power domain in Indonesia. The company also provides operation and maintenance services for such assets. It has a track record of installing distributed solar assets for more than 70 SMEs and large companies, such as textile and food manufacturers, including Japanese companies. Xurya was formed in 2018 and is based in Jakarta, Indonesia.

Buy -
Buyer

Nomura Holdings

Tokyo, Japan
Category Company
Founded 1925
Sector Financial Services
Employees27,242
Revenue 1.66T JPY (2025)
DESCRIPTION

Nomura Holdings is engaged in investment and financial services business with a focus on securities business. The Company's business operations include financing, asset management, securities trading and brokerage, underwriting and sale of securities, private placement of securities, own funds Investment activities, and other securities and finance-related activities. Nomura Holdings was founded in 1925 and is based in Tokyo, Japan.

DEAL STATS #
Overall 4 of 9
Sector: Forest Products M&A 1 of 1
Type: Add-on Acquisition M&A Deals 3 of 8
Country: Australia M&A 1 of 1
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-29 Orion Breweries

Tomigusuku-shi, Japan

Orion Breweries is manufacturing beer products mainly sold in Okinawa market and running two hotel businesses. Orion Breweries was founded in 1957 and is based in Tomigusuku-shi, Japan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-29 Orizuru Therapeutics

Kanagawa, Japan

Orizuru Therapeutics is an R&D driven company focusing on the development of iPS cell-based regenerative medicine and the application of iPS cell technologies. Orizuru Therapeutics is based in Kanagawa, Japan.

Buy -

Seller(S) 2

SELLER

Angeleno Group

Los Angeles, California, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2001
Size Small
Type Sector Agnostic
DESCRIPTION

Angeleno Group is a private equity firm focused on high growth investments within the energy sector. The Firm pursues a wide range of opportunities and will consider transactions across the US. Angeleno looks for companies that are heavily involved in the development of innovative products and services that are emerging as potential solutions to global energy and environmental challenges. Specific sub-sectors of interest include clean transportation, emissions control and carbon management, energy efficiency, power infrastructure, renewable energy, solar, waste management, and wind. The Firm looks to commit $10 to $30 million per investment and will consider a variety of deal types, including secondaries, first institutional equity, growth equity, and PIPEs. Angeleno Group was founded in 2001 and is based in Los Angeles, California.

DEAL STATS #
Overall 16 of 19
Sector: Forest Products M&A 1 of 1
Type: Add-on Acquisition M&A Deals 8 of 11
Country: Australia M&A 2 of 2
Year: 2022 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-05 Fictiv

San Francisco, California, United States

Fictiv is a sustainable, on-demand digital manufacturing software platform enabling automation, localization and decarbonization of manufacturing supply chain operations. Fictiv’s solution is built around a digital core that leverages proprietary AI algorithms to deliver instant pricing, design for manufacturability feedback, and production transparency. Fictiv was founded in 2013 and is based in San Francisco, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-30 Patriot Environmental Services

Wilmington, California, United States

Patriot Environmental Services is an environmental service provider serving the Southwestern United States with a proven ability to implement. Patriot provides full-service environmental solutions to a wide variety of end markets, serving customers within manufacturing, agriculture, construction, healthcare, mining, oil & gas, transportation, and utilities markets. Patriot Environmental Services was founded in 2002 and is based in Wilmington, California.

Sell -
SELLER

Mitsui & Co

Tokyo, Japan
Category Company
Founded 1947
Sector Diversified
Employees56,400
Revenue 14.66T JPY (2025)
DESCRIPTION

Mitsui & Co engages in the export, import, wholesale, and retail of steel products; steel processing; mining and sale of iron ores; and sale and trading of ferrous scrap and alloy products and chemicals, energy, food, food & retail management, healthcare & service, consumer business, IT & communication business, corporate development business. Mitsui & Co was founded in 1947 and is based in Tokyo, Japan.

DEAL STATS #
Overall 13 of 16
Sector: Forest Products M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 3
Country: Australia M&A 2 of 2
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-09 Mainstream Renewable Power

Dublin, Ireland

Mainstream Renewable Power is a wind development business. Mainstream has partnered with Siemens Power Ventures on the 4GW Hornsea wind farm development offshore UK. Mainstream Renewable Power was founded in 2008 and is based in Dublin, Ireland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-28 Xurya

Jakarta, Indonesia

Xurya is engaged in the development of distributed solar assets for C&I customers, a company in the distributed solar power domain in Indonesia. The company also provides operation and maintenance services for such assets. It has a track record of installing distributed solar assets for more than 70 SMEs and large companies, such as textile and food manufacturers, including Japanese companies. Xurya was formed in 2018 and is based in Jakarta, Indonesia.

Buy -
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