Forestry and sawmilling business BSW Group has been acquired by private equity firm Endless LLP as part of a multi-level growth plan for the company.
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 ambitious future growth plans through further expansion of its market position.
As well as adding BSW to its portfolio, the Leeds-based private equity firm also own 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.”
Founded in 1848 in Berwickshire, BSW is the largest sawmilling group in the UK and within the top twenty timber producers in Europe.
BSW’s shareholders were advised throughout the process by MCF Corporate Finance led by Ian Henderson; and Burges Salmon led by Danny Lee. Management were advised by Liberty Corporate Finance. Endless was advised by Walker Morris (Legal), Deloitte (Pensions), Poyry (Commercial), KPMG (Tax), and EY (Financial).