BSW Group, the UK’s largest integrated forestry and sawmilling business, has been acquired by private equity firm Endless LLP.
The market-leading sawmiller, which employs over 1,200 people and turns over £350 million annually, has previously expanded the business and integrated its supply chain through acquisitions such as Tilhill Forestry, Alvic Plastics and, more recently, Maelor Forest Nurseries.
Endless’ purchase of BSW provides the capital to support BSW’s future growth plans.
As well as adding BSW to its portfolio, the Leeds-based private equity firm also owns a number of large UK-based businesses including cake manufacturer Bright Blue Foods, golf retailer American Golf and national distribution firm Menzies Distribution.
BSW CEO, Tony Hackney, and CFO, Alan Milne, will remain at the helm of the business and will continue to assist in driving the group’s future growth.
Tony Hackney, CEO of BSW Group, 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 under Endless’ ownership.
"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, added: “We are delighted to have been selected to support the acquisition of BSW, a business with fantastic prospects and one that we believe has a very exciting future. As the country’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, Alan and the rest of the BSW team to deliver continued organic growth and further diversification through investment and acquisition.”
Founded in 1848 in Berwickshire, BSW is the largest sawmilling group in the UK and within the top twenty timber producers in Europe.