The Lyme Timber Company

What The Lyme Timber Company does

The Lyme Timber Company LLC is a private timberland investment management firm founded in 1976 and headquartered in Hanover, New Hampshire. The firm organizes and manages closed-end private equity-style funds that acquire and manage working forestland in the United States and Canada, with a portfolio of approximately 1.3 million acres across the Northeast, Appalachian region, Lake States, and US South. Since 2022, the firm has been 100% employee-owned following a management buyout of original founder passive interests, and it is registered as an investment adviser with the U.S. Securities and Exchange Commission.

The firm's core product is a series of timberland investment funds—the Lyme Northern Forest Fund (2002, $64.5M), Lyme Forest Fund (2006, $190.6M), Lyme Forest Fund III (2010, $160.4M), Lyme Forest Fund IV (2014, $250M), Lyme Forest Fund V (2018, $300M), and the Lyme Conservation Opportunities Fund (2019)—together representing over $1 billion in cumulative capital commitments from institutional limited partners. All working timberland properties are certified to FSC (FSC-C003016) and SFI (BVC-SFIFM-005234) forest management standards, and 95% of the 1.3 million acres under management are or are expected to be permanently conserved via working forest conservation easements. The firm has developed adjacent business lines in forest carbon offset project structuring (with Finite Carbon since 2010, targeting 5M+ tons CO2e), wetland/stream mitigation banking (in partnership with Eco-Capital Advisors), and conservation advisory services to foundations, philanthropists, and landowners.

The firm generates revenue through management fees on committed/invested fund capital, performance fees (carried interest) on realizations, advisory service fees, and operational revenue from wholly-owned forest management subsidiaries (e.g., Lyme Great Lakes Forest Management, Mountaineer Forest Management, Three Rivers Forest Management) and joint-venture sawmill investments (e.g., Bradford Forest with the Rossi Group). Limited partners are predominantly pension funds, endowments, foundations, and family offices accessed through direct institutional relationships, supplemented by thought leadership at industry conferences (Yale Forest Forum, RISI Forest Investment Conference) and Senate testimony on forestry policy. Strategic distribution is anchored by long-tenured conservation partnerships with The Conservation Fund, Kestrel Land Trust, The Trustees of Reservations, and various state Departments of Natural Resources.

Name

The Lyme Timber Company

Legal name

The Lyme Timber Company LLC

Website

https://lymetimber.com

Company type

Private

Founded year

1976

Operating status

Operating

Headcount range

11–50 employees

Short description

The Lyme Timber Company is a private, 100% employee-owned timberland investment manager founded in 1976 that raises and deploys institutional capital into closed-end funds acquiring and conserving working forests across the US. It serves pension funds, endowments, and foundations with FSC/SFI-certified sustainable timberland investments that integrate permanent conservation outcomes.

Ownership category

akta.pro rank

Product category

Timberland Investment Management

NAICS

Timber Tract Operations (11311), Timber Tract Operations (113110), Forestry and Logging (113), Support Activities for Forestry (1153)

SIC

Forestry (800)

akta.pro primary industry

Timberland Asset Management (Institutional/Private) (AFAMAKAA)

akta.pro secondary industries

Natural Resources — Timberland (FSAAAKAH), Real Assets — Timberland & Forestry (FSAHAIAJ), Timberland Asset Management & Consulting (AFAMAAAI), Timberland & Forest Asset Management (IMAMAJAA)

Keywords

• Timberland investment management
• Sustainable forestry management
• Conservation finance services
• Forest carbon offsets
• Mitigation banking operations

Headquarters

HQ city

Hanover

HQ country

United States

HQ region

North America

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Marketing or Sales, Others

Revenue model

1. Timber Investment Management: The firm organizes and manages private timberland investment funds, earning management fees on committed capital and performance fees based on investment returns. Revenue derived from sustainable timber harvesting operations, recreational leasing, and sale of carbon-offset credits generated from forestland holdings.
2. Advisory Services: Strategic advisory services provided to private landowners, foundations, and conservation finance intermediaries for conservation-oriented real estate dispositions including fee or easement donations, sales, and monetization of ecosystem services.
3. Conservation Transaction Facilitation: Investment returns generated from sale of conservation interests including working forest conservation easements and final property sales, leveraging public funding sources and nonprofit conservation partnerships.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

The Lyme Timber Company is a private timberland investment management firm that organizes and manages closed-end private equity-style funds raising capital from institutional investors to acquire, conserve, and sustainably manage forestland across the US and Canada. The firm invests institutional capital in timberland properties generating returns through sustainable timber harvesting, recreational leasing, carbon offset credit sales, and conservation easement transactions, while also providing conservation advisory services to landowners, foundations, and conservation finance intermediaries.

Product overview

The Lyme Timber Company is a private timberland investment management firm founded in 1976, offering a platform of investment products focused on sustainable forestland management and conservation. The core offering consists of forestland holdings (Lyme Great Lakes Timberlands, Lyme Adirondack Forest Company, Lyme Mountaineer Timberlands, Lyme Pennsylvania Headwaters, and Lyme Tennessee Timberlands) totaling approximately 1.3 million acres across the US and Canada. The company also offers mitigation banking services (Cowasee Basin, Moosa Creek Mitigation Bank) and conservation advisory services to landowners and foundations. Investment vehicles include The Lyme Forest Fund series (Funds I-V with over $960M in capital commitments) and The Lyme Conservation Opportunities Fund. Revenue is generated through sustainable timber harvesting, recreational leasing, carbon offset credit sales, and capital events from conservation interest sales and property dispositions. All working timberland properties are certified to FSC and SFI forest management standards.

Differentiator

Problem solved

Functional benefit

Brands

• Lyme Redwood: Timberland holdings in California (since sold)
• Lyme St. Croix Forest
• Cross City Forest
• Lyme Great Lakes Timberlands
• Lyme Adirondack Forest Company (LAFCo)
• Lyme Mountaineer Timberlands
• Lyme Pennsylvania Headwaters
• Lyme Tennessee Timberlands

Products and services

• The Lyme Forest Fund Series
• Conservation Advisory Services
• Lyme Great Lakes Timberlands
• Lyme Adirondack Forest Company (LAFCO)
• Lyme Mountaineer Timberlands
• Lyme Pennsylvania Headwaters
• Lyme Tennessee Timberlands
• Cowasee Basin Mitigation Bank
• Moosa Creek Mitigation Bank
• Bradford Forest Sawmill

Quantifiable outcome

• 1.3 million acres under management with 95% permanently conserved
• +3 more outcomes

Named customers11 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

14 partnerships are on record, tiered core and minor.

• Conservation Equity ManagementcoreStrategic or Co-development Partner · 2 December 2024Investment funds managed by Lyme sold one wetland mitigation bank in Virginia and five stream mitigation banks in West Virginia to Conservation Equity Management, a Texas-based firm with 30+ years of experience in conservation and environmental mitigation assets.
• Eco-Capital Advisors (ECA)coreStrategic or Co-development Partner · 1 January 2015Lyme partners with Eco-Capital Advisors to develop and operate mitigation banks, having established the Back Mountain Mitigation Bank in Virginia and Bunrootis stream mitigation banks in West Virginia through joint restoration and permitting efforts.
• Finite CarboncoreStrategic or Co-development Partner · 1 January 2010Since 2010, Lyme has partnered with Finite Carbon to generate forest carbon offset credits, structuring projects in Maine, Tennessee, West Virginia, Alabama, Wisconsin, and Oregon that have sequestered over 5 million tons of CO2e.
• The Conservation FundcoreStrategic or Co-development PartnerMajor conservation nonprofit partner in multiple transactions including Adirondack Park conservation, Florida timberlands, and Pennsylvania timberland acquisitions, providing conservation easement financing and project coordination.
• Kestrel Land TrustcoreStrategic or Co-development PartnerMassachusetts land trust partner in multiple Quabbin region conservation transactions, working with Lyme to permanently conserve forestland for wildlife habitat, water quality, and public recreation.
• The Trustees of ReservationscoreStrategic or Co-development PartnerMassachusetts conservation organization partner in Quabbin region acquisitions, ensuring permanent protection of forestland with guaranteed public access to trails.
• Rossi GroupcoreStrategic or Co-development PartnerJoint venture partnership to acquire and operate sawmills including Bradford Forest in Pennsylvania and Emporium Hardwoods, combining Rossi's sawmill expertise with Lyme's timberland holdings to support local forest economy.
• Doris Duke Charitable FoundationminorStrategic or Co-development PartnerFoundation client for advisory services on land conservation initiatives and program design.
• David and Lucile Packard FoundationminorStrategic or Co-development PartnerFoundation client for advisory services on land conservation initiatives.
• Forest TrendsminorStrategic or Co-development PartnerConservation organization partner contributing to State of Private Investment in Conservation 2016 report.
• Green Finance InstituteminorStrategic or Co-development PartnerPublished two case studies highlighting Lyme's work to conserve forests and restore degraded wetlands as part of a database featuring mechanisms that mobilize private sector finance towards nature.
• Wildlife Management InstituteminorStrategic or Co-development PartnerPartnership to demonstrate how commercial timber harvesting can create young forest habitat for wildlife through the Kunjamuk Young Forest Demonstration Project.
• Northern Appalachian Log and ForestryminorStrategic or Co-development PartnerMinority investment in locally managed log marketing and export business based in Coudersport, Pennsylvania supporting Lyme's timberland operations.
• Coastal Enterprises, Inc.minorStrategic or Co-development PartnerConservation finance organization and key partner in Adirondack Park conservation transaction with The Conservation Fund.

Scale indicators12 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Rayonier: Rayonier is a publicly traded timberland REIT with significant holdings across the US South, Pacific Northwest, and New Zealand. Comparable as a large-scale institutional timberland owner though structured as a public REIT.
• Weyerhaeuser Company: Weyerhaeuser is a publicly traded timberland REIT and forest products manufacturer with millions of acres of US timberland. A broad incumbent in the timberland space though operating primarily as a REIT and manufacturer rather than a discretionary institutional investment manager.
• Potlatch Deltic Corporation: Potlatch Deltic is a timberland REIT that owns approximately 2.2 million acres of timberland in the US South, Pacific Northwest, and Lake States. Public-market peer for timberland exposure but does not manage capital for external LPs.

Direct peers

• Campbell Global: Campbell Global is a timberland investment manager owned by T. Rowe Price that manages timberland assets for institutional investors. Direct competitor in the closed-end timber fund space and the most relevant hire source for Lyme (per team member Kit Burgin's prior role).
• Domain Timber Advisors: Domain Timber Advisors is a timberland-focused investment manager offering closed-end funds and separate accounts to institutional investors. Closely comparable boutique timberland investment manager with similar LP base.
• Molpus Woodlands Group: Molpus is a private timberland investment management organization that acquires, manages, and sells timberland assets for institutional investors. Closely comparable in scale, private ownership structure, and institutional LP base.
• Hancock Natural Resource Group (Manulife): Hancock NRG is one of the largest global timberland investment managers, managing timberland assets on behalf of institutional investors with a similar institutional capital-raising model. Both firms operate fund vehicles for pension fund LPs and emphasize sustainable forest management and conservation outcomes.
• Forest Investment Associates (FIA): FIA is a timberland investment management firm serving institutional investors with commingled funds and separate accounts. Operates a similar fund-based model focused on US timberland acquisitions.
• GreenWood Resources: GreenWood Resources is a timberland investment manager with a focus on sustainable forestry for institutional investors. Comparable closed-end fund structure serving pension funds and endowments.

Emerging players

• Finite Carbon: Finite Carbon is the largest developer of forest carbon offsets in the US and Lyme's exclusive carbon development partner since 2010. Comparable given its specialization in monetizing forest carbon across US timberland, though operates as a developer rather than investment manager.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/the-lyme-timber-company

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Lyme Timber Company