BSW Timber Ltd, the UKs major integrated forestry and sawmilling group, has been acquired by Binderholz.
The deal is subject to normal closing conditions and approval from the Austrian Competition Commission and UK Financial Conduct Authority.
Binderholz is a significant global sawmiller and producer of value-added products, including cross laminated timber, Glulam beams, solid wood panels, pressed pallet blocks, wood pellets and briquettes. The business has demonstrated a solid, consistent growth, now operating in Austria, Germany, Finland, and the USA.
Under the leadership of CEO Tony Hackney, BSW will integrate with Binderholz. “Our management teams across the business units remain and the whole team will be supported by the Binder family and senior management,” said Tony.
Following the acquisition, Binderholz and BSW plan to undertake a significant capital investment program in the sites to increase capacity and broaden the capabilities of the business.
“The long-established name of BSW will remain, and business will be as normal, with much greater opportunity to supply a wider basket of products. We will be enhancing our capabilities to further expand our capacity and grow further in supply to all sectors,” added Tony.
“We are all excited and thoroughly committed to support the business through a transitionary period under new ownership and have demonstrated our ability to do this. I am very grateful to our previous owners Endless LLP and the whole team for the support they have given us all at BSW,” he added.
“The acquisition of BSW will strengthen Binderholz’s capabilities and further broaden BSW’s product offering and service to customers,’ said Reinhard Binder, Chairman of the Binderholz group of companies.
Aidan Robson, Founding Partner of Endless LLP, said: “We are proud of what we have achieved at BSW in such a short period of time and have enjoyed working with the BSW team. We are delighted to be selling the business to such a good home in Binderholz, who have such a strong track record of growth and a market leading reputation. We feel this acquisition is hugely positive for BSW employees, its customers and the whole supply chain.”
“We are very pleased to be strengthening our position in the value-added timber market by becoming part of the Binderholz family. The opportunity to enhance our supply chain and additionally widen our product offering is exciting. This represents another major milestone in the growth of BSW and we are looking forward to drawing on the expertise and knowledge of the Binderholz team. I would also like to thank the Endless LLP team for their huge support over the last few years.”
Endless LLP and BSW were advised by MCF (Corporate Finance), Walker Morris (Legal, PWC (Financial and Tax), Deloitte (Pensions), Wills Towers Watson (Insurance) and Propaganda (Brand). Binderholz were advised by Alvarez and Marsal (Financial, Tax and Pensions), Flick Gocke Schaumberg (Legal) and MacFarlanes (Legal).