Binderholz group completed its acquisition of the British wood-industry company BSW Timber Group (BSW Timber) with effect from 5 January. The takeover was effected via Binderholz UK Holding and had been announced on 11 October 2021, but was still subject to approval from the Austrian competition authority (BWB) and the Financial Conduct Authority (FCA). The brand name BSW will also be retained after integration into the Binderholz group and the existing management will continue to run the company.
Once the deal is closed, the Binderholz group will have cumulated annual sales revenue of approximately €2.6bn with some 5,000 employees at 20 facilities in Austria, Germany, the UK, Latvia, Finland, and the USA. The BSW acquisition boosts annual cutting capacity within the Binderholz group to roughly 10.7m m³ of roundwood.