Burges Salmon advises BSW Timber Limited on acquisition by Endless LLP
Burges Salmon’s corporate finance team has advised the majority shareholders of market-leading UK timber producer BSW Timber on its sale to private equity firm Endless.
With its headquarters located in Earlston, BSW is the UK’s largest integrated forestry and sawmilling business, with eight sawmills (including one in Latvia) employing over 1,200 people and an annual turnover of £350 million.
Burges Salmon partner Danny Lee, based in the firm’s Edinburgh office, led the multi-disciplinary team advising on the transaction, with support from director Joanna Monaghan and solicitor Niall Mackle.
BSW chairman Martin Gale, who led the transaction team, said: “Selling a family business with over 170 years of successful trading, combined with a complicated shareholder base is a formidable task. Burges Salmon pursued this task with impressive professionalism and sensitivity, whilst balancing legal robustness with diplomacy.
“Danny Lee and his team have been instrumental in securing the key parameters of the sale, which now ensures a solid future for BSW in the 21st Century. On behalf of the shareholders, I am delighted Burges Salmon led by Danny Lee has been such a solid part of our Deal Team.”
Mr Lee said: “Having advised BSW for over 20 years, it gave me great personal satisfaction to help one of Scotland’s most successful private companies achieve such a significant milestone. Under Endless’ ownership and the guidance of an impressive management team led by CEO Tony Hackney and CFO Alan Milne, I have no doubt BSW will continue to expand and innovate.”