£700m turnover forestry giant takes stake in shed manufacturer
The largest integrated forestry business in the UK BSW Group has acquired a stake in Bradford shed manufacturer Power Sheds
Operating since 2019, Power Sheds was launched manufacturing wooden garden buildings such as sheds and summerhouses and three years later the company has a turnover in excess of £15m.
Power Sheds’ CEO, Jack Sutcliffe, and director Simon Hobson will remain in control and continue to drive the business forward in their venture with BSW Group.
“Our new partnership with BSW Group is really exciting for the company and gives us a great opportunity to build Power Sheds into a world-wide brand and break into new markets such as the US and Europe,” said Sutcliffe.
“I’m looking forward to building the business even further and seeing where it takes us over the next few years.”
Hobson said: “This is a really exciting time for the company, and we can’t wait to see what this means for our development and growth. The new partnership means there are going to be more opportunities for the existing team at Power Sheds, who have been integral in helping us achieve everything we’ve done on the journey so far.”
Founded in 1848 in Berwickshire, Scotland, BSW Group is the largest integrated timber and forestry business in the UK, with a turnover in excess of £700m.
The group has operating divisions spanning tree nurseries, forestry, harvesting, sawmilling, timber processing and energy, while being committed to supporting sustainable forestry.
“We are really impressed with the rapid growth and success that Power Sheds has achieved in only three years, so the team was very excited to develop a relationship and help it expand to its full potential. We are very much looking forward to working together.” Alan Milne, CFO of BSW Group said.
CEO of BSW Group, Tony Hackney, said: “To work in partnership with Power Sheds is a great win for us, and gives us the opportunity to supply a wider range of value-added products to global markets. We’re excited to support Power Sheds as they continue to grow as a leading garden building supplier.”
Global sawmiller Binderholz acquired BSW Group in January 2022, meaning it is now the largest sawmilling timber group in Europe with access to markets on a global scale.
Power Sheds employs 75 staff at the Bradford headquarters.
Power Sheds were advised by Schofield Sweeney (Legal) and BPR Heaton Chartered Accountants (Corporate Finance). BSW was advised by Burges Salmon (Legal) and PwC (Financial and Tax).