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Binderholz planning to take over BSW Timber Group

20.10.2021 − 

Binderholz group wants to take over BSW Timber Group (BSW Timber Ltd.). Subject to approval from the Austrian competition authority, BWB and the Financial Conduct Authority (FCA), the closure of the deal is scheduled by the end of this year. According to a release published by Binderholz on 11 October, an agreement on the acquisition of the company shares has already been reached with the principal owner, the private-equity company Endless LLP of Leeds. Endless had only taken over BSW and all of its subsidiaries in February 2020. Once the deal is closed, Binderholz believes it will be Europe’s biggest group in the segment of the sawmilling and solid-wood processing industry with cumulated annual sales revenue of around €2.2bn and roughly 5,000 employees at 29 facilities.

According to managing director Reinhard Binder, the BSW takeover perpetuates Binderholz’ long-term strategy of expansion and sustainability. The acquisition of the 1m m³ sawmill of Klausner Lumber Two had only been completed on 8 January. Binderholz had purchased the works for US$83.4m at an auction on 10 December 2020. Binderholz had already acquired the assets of the works of Klausner Lumber One also geared to an annual cutting capacity of 1m m³, for US$61.0m by auction on 21 August.

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