BSW Timber Limited
We completed the acquisition of BSW Timber Limited (‘BSW’) on 18 February 2020. BSW is the UK’s largest integrated forestry and sawmilling business with turnover of over £350 million and 1,200 employees.
Founded in 1848 and headquartered in Earlston, Scotland, the business comprises five main operating divisions: tree nurseries, forestry management, tree harvesting, sawmilling, and energy. It operates seven sawmills across the UK and one in Latvia, and has the capacity to produce over 1.2 million cubic metres of sawn timber per year.
BSW generated in excess of £16 million EBITDA in FY19 and over the last ten years has invested more than £125 million in its operations. The business is deeply committed to supporting sustainable forestry and has recently vertically integrated through its acquisition of Maelor Forest Nurseries, a tree nursery business, which produces over 28 million tree saplings every year, ensuring sustainability of the UK’s forests. For every tree BSW harvests, a minimum of five trees are planted in its place.
Tony Hackney, CEO of BSW, said: “This is fantastic news for BSW. Whilst it is business as usual, we are excited by the opportunities new ownership will bring us and we look forward to entering a new era of rapid growth and development with Endless’ support. We would also like to thank the Brownlie family for creating such a strong legacy and supporting the growth of the company and its employees.”
Aidan Robson, Partner at Endless LLP, added: “We are delighted to have acquired BSW, a business with strong heritage, fantastic prospects and one that we believe has a very exciting future. As the UK’s largest timber producer, BSW plays a critical role in supporting the UK’s commitment to using more local and sustainable raw materials and becoming carbon neutral by 2050. We look forward to working closely with Tony Hackney, Alan Milne and the rest of the BSW team to deliver continued organic growth and further diversification through investment and acquisition.”