The equity capital raise was led by Lagata an investment company focused on active investments in sub-Sahara Africa with significant experience in the forestry sector in the West Africa region.  Lagata, which is now Miro's largest shareholder, brings strategic value and alignment with Miro's long-term vision.  Five existing shareholders in Miro also participated in the equity funding transaction, Agwa Partners, British International Investment, Finnfund, FMO and Mirova, demonstrating continued confidence in Miro's strategy, impact and commercial potential, and validating the overall transaction structure.  Proceeds from the equity capital raise will be used to fund operations, working capital requirements, and ongoing planting activities aligned with Miro's business plan.

The equity capital raise was achieved during a challenging period for the wider industry, with macroeconomic pressures and a prolonged downturn in plywood prices. Yet demand continues to grow for resilient, responsibly sourced materials. Miro's vertically integrated model, combining certified sustainable forestry, local job creation, and advanced plywood manufacturing, offers a compelling solution to global buyers looking to secure long-term, ethical supply. 

This transaction highlights Verdant IMAP's ability to structure and execute complex capital solutions for its clients, while reinforcing its strong relationships with leading development finance institutions. The transaction is Verdant IMAP's sixth completed transaction in the broader agro-industrial sector in the last 24 months.  The transaction also represents Verdant IMAP's fifth major transaction in West Africa in the last four years. 

Berend Jan Kingma, CEO of Miro, commented:
 
"We are proud to welcome Lagata as our new principal shareholder. Their experience in forestry and deep understanding of African markets make them a natural partner for the next phase of Miro's growth. We are equally grateful for the continued support of our existing shareholders, who share our belief in the power of sustainable forestry to deliver both commercial and social value. With this investment, we're well positioned to strengthen our global reach and deepen our impact across the region."

Distributed by APO Group on behalf of Verdant Capital.