- BSW Group, the UK’s largest forestry and sawmilling business, has been acquired by private equity firm Endless LLP as part of a multi-level growth plan for the company. The terms of the transaction were not disclosed.
Founded in 1848 the BSW Group employs over 1,200 people and turns over £350m annually. It is the largest sawmilling business in the UK with capacity to produce over 1.2 million m3 of sawn timber per year.
It has five main operating divisions: tree nurseries; forestry management; tree harvesting; sawmilling; energy. The group comprises BSW Timber and BSW Energy plus its acquisitions of Tilhill Forestry, Alvic Plastics and Maelor Forest Nurseries.
The purchase by Endless LLP will provide the capital to support BSW’s future growth plans through further expansion. BSW CEO, Tony Hackney, and CFO, Alan Milne, will remain with the business.
“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.” Said Tony Hackney, CEO of BSW Group.
“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.”
“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.” Said Aidan Robson, Partner at Endless.
“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.”