Sumitomo Forestry America to Acquire JPI’s Operating Platform
October 2, 2023
JPI and Sumitomo Forestry America have signed a definitive agreement under which Sumitomo Forestry will acquire JPI’s operating platform. JPI will keep its name and headquarters in Irving, Texas and continue managing assets currently under construction until completion. The deal is expected to be finalized in Q4 2023, with minority interests acquired by JPI CEO Payton Mayes and CFO Mollie Fadule.
- Buyers
- Sumitomo Forestry America, Inc.
- Targets
- JPI
- Sellers
- JPI (operating platform)
- Industry
- Real Estate
- Location
- Texas, United States
- Transaction Type
- Buyout
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