BSW Timber Ltd, the largest integrated timber and forestry business in the UK, and a member of Binderholz, has acquired Scott Group, a leading supplier of timber pallets and bespoke timber packaging solutions.
Based near Dunfermline in Scotland, with an annual turnover above £250m and 1,300 employees, Scott Group is an award-winning, sustainable manufacturer of new, bespoke, and reconditioned timber pallets, producing over 30 million pallets per year.
The Scott Group was founded in 1987 and operates across 32 sites, from Shetland to Devon, working with customers to promote the circular economy, which is emphasized by its pallet recovery, repair, and reuse service, while it also operates a timber sourcing arm in Latvia.
“We’re absolutely thrilled to have acquired Scott Group,” said Tony Hackney, CEO of BSW Group. “It’s a move which further strengthens our product and service offering.
“It ties into our vision of not only making use of the full value of timber but also of achieving the best uses for timber across the BSW Group while fully utilizing the logistical firepower of the combined businesses. This strategic acquisition means that we are poised and ready to serve our customers when we see the economic recovery and upturn.
“Much like us, Scott Group has grown organically and through acquisition over the last decade, and we’re confident that with the expertise and experience of BSW and Scott together we can continue to build on this both in the UK and further afield.”
“This is a huge move for both Scott Group and the wider timber industry, helping us to cement our status as the UK’s most innovative manufacturer and supplier of timber pallets,” added Norman Scott, owner and Group Operations Director at Scott Group. “It also helps us to ensure that we can work even closer with customers to provide solutions that fit their requirements and deliver value.”
With the acquisition of Scott Group, BSW Group now employs 3,000 people across the sector, and has an annual turnover of approximately £900m, with Binderholz Group turnover reaching almost €2.8bn.
BSW CEO Tony Hackney and CFO Alan Milne will join the existing Scott Group Board of Directors, who will continue in their current roles.
Reinhard Binder, CEO of Binderholz Group, noted: “This transaction is a further step for our group to enlarge our product range, and a consequent step in following our strategy to invest in the value chain. Scott Group fits perfectly into our sustainable business model and zero-waste principle.”
BSW Group was advised by Macfarlanes LLP in London, while Scott Group was advised by BTO Solicitors LLP in Glasgow.