Family firm sold
BSW Timber acquired by private equity firm Endless
Martin Gale (chairman, BSW), Tom Callaghan (Investment Manager, Endless)
Private equity investor Endless has acquired Scotland-based BSW Timber and its associated subsidiaries.
BSW is the largest integrated forestry and saw-milling business in the UK with turnover in excess of £350m and 1,200 employees.
Headquartered in Earlston, Berwickshire, the business has been a family concern since it was founded in 1848.
It comprises five main operating divisions and has seven sawmills in the UK – Boat of Garten, Carlisle, Dalbeattie, Fort William, Newbridge, Petersmuir and Southampton – and one in Latvia. Over the last ten years BSW has invested more than £125m in its operations.
Terms of the acquisition were not disclosed but the acquisition by Leeds-based Endless is set to drive BSW’s growth plans and support its commitment to sustainable forestry.
Endless owns a number of large UK-based businesses including golf retailer American Golf and Scottish distribution firm Menzies Distribution through a group of funds.