Integrated forestry and sawmilling group BSW Timber 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 solid consistent growth and now operates across Austria, Germany, Finland and the USA.
Under the leadership of CEO Tony Hackney, BSW will integrate with Binderholz.
”Our Management teams accross the business units remain and the whole team will be supported by 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 insupply 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”.
”The acquisition of BSW will strengthen Binderholz’s capabilitiesand 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 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 the BSW employees, its customers and the whole supply chain.