Lagata,  a specialist in forestry investment, has led a new funding round into Miro, the sustainable forestry and plywood manufacturing company which employs over 4,000 people in Sierre Leone and Ghana

Existing shareholders have also reaffirmed their commitment to the company’s growth: British International Investment, FMO, and Finnfund, the respective DFIs of the UK, the Netherlands and Finland, as well as Mirova, the French impact investor, and a UK based Family Office, have each invested additional sums.  

The new capital will enable Miro to continue scaling its vertically integrated operations and deliver on its ambition to become a global leader in sustainable plywood manufacturing. 

The new investment in Miro comes at a difficult time for the sustainable forestry industry. Macroeconomic headwinds and a prolonged slump in plywood prices have negatively impacted the industry. 

But there is also growing recognition of the importance of resilient, responsibly sourced supply chains. Miro’s operations in West Africa, supported by its integrated business model and sustainable forestry practices, provide customers with a compelling and reliable alternative in the global plywood market. 

Berend Jan Kingma, Chief Executive of Miro, said: “We are thrilled to welcome Lagata as a long-term partner, and grateful for the continued support of our existing investors. This investment reflects confidence in Miro’s long-term strategy and in our role as a key employer and sustainable forestry leader in the region. With this support, we are well positioned to build on our momentum and expand our presence in global markets.” 

BII became an investor in Miro in 2015 when commercial capital for such an ambitious and unproven venture was not available. It has supported the company over the last decade to become a vital employer in Sierre Leone and Ghana and a trailblazer in demonstrating the economic value of sustainable forestry in West Africa.