Endless portfolio company, BSW completes second acquisition in a month
Hot on the heels of acquiring Dick Brothers in early November, Endless’ portfolio company BSW Group (‘BSW’) has today acquired SCA Wood UK’s Building and Supply Solutions division (‘SCA Wood UK’) from SCA Group (‘SCA’).
SCA Wood UK is one of the largest processors and distributors of timber products in the UK with annual sales of over £130 million. The business operates from its headquarters and central distribution centre in Stoke-on-Trent, and has further processing and distribution capability in Melton, Welshpool and Cumbernauld.
Following on from BSW’s acquisition of Dick Brothers in November 2020, the acquisition of SCA Wood UK further adds to the vertical integration of BSW’s timber supply chain, from initial seed all the way through to distribution of the finished timber product to merchants and retailers.
Jerry Larsson, President of SCA Wood, said: “I believe that the business will further develop under the ownership of BSW and we will continue to supply raw materials into the UK market via BSW Timber, in addition to our existing Industrial Solutions import and distribution operation.”
Tony Hackney, CEO of BSW, said: “We are very pleased to have been able to agree a common approach with SCA to acquire SCA Wood UK’s operations. This will significantly strengthen our position with our expanding customer base and allow us to offer a wider product offering and increased service levels. Through this acquisition, we will deliver a combined package of timber solutions adding to the security of supply for the market.”
Aidan Robson, Partner at Endless LLP, added: “We are delighted to be supporting BSW with another acquisition only three weeks after completing the acquisition of Dick Brothers. This latest acquisition further vertically integrates BSW from seed to timber and now added value and distribution. BSW is going from strength-to-strength and this acquisition will take BSW to over £500 million in turnover.”
BSW was advised by Walker Morris (Legal), EY (Tax) and Willis Towers Watson (Insurance). SCA Wood was advised by RPC (Legal).