THE OPPORTUNITY
Founded in 1848 and headquartered in Earlston, Scotland, the business comprises five main operating divisions: tree nurseries, forestry management, tree harvesting, sawmilling, and energy. It operates seven sawmills across the UK and one in Latvia, and has the capacity to produce over 1.2 million cubic metres of sawn timber per year. With turnover of c£350 million the business was owned by family shareholders who were looking to exit the business to a safe owner who could bring a new strategy and capital to the business.
THE SOLUTION
Endless acquired BSW in February 2020 and invested heavily in the business, growing turnover by over £300 million and diversifying the business into timber harvesting, timber processing and distribution. This was achieved through the implementation of a long-term investment plan with further funding support from Endless, including three strategic acquisitions and an intensive capital expenditure program.
As the largest operator in the UK, we also focused on the future sustainability of the timber industry, doubling the size of the tree nursery division and expanding it into Scotland. For every tree harvested by BSW, five were planted in its place.
THE IMPACT
In October 2021 Endless sold BSW to Binderholz, a family-owned global sawmiller and producer of value-added products including cross laminated timber, gluelam beams and solid wood panels. Operating across Austria, Germany, Finland and the USA the combined group will have turnover of approximately £2bn and will add further skills and opportunities to the BSW group.
