Fife business with £250m annual sales acquired in major takeover deal

Fife-based timber firm Scott Group has been acquired in a multi-million-pound deal.

The company is best known for Scott Timber, a pallet producer headquartered at Halbeath Interchange Business Park in Dunfermline.

The group has annual turnover in excess of £250 million, employs 1,300 staff and produces in excess of 30 million pallets per year.

The Fife business has been bought by BSW Timber Ltd, the largest integrated timber and forestry business in the UK.

The firm was founded in 1848 and is headquartered in Earlston, Berwickshire.

Norman Scott, owner and group operations director of Scott Group, said: “This is a huge move for both Scott Group and the wider timber industry.

“It helps us to cement our status as the UK’s most innovative manufacturer and supplier of timber pallets.”

Acquisition ‘further strengthens’ offering

Meanwhile BSW Group chief executive Tony Hackney was “thrilled” with the acquisition.

With the acquisition of Scott Group, BSW Group now employs 3,000 staff.

Its annual turnover of approximately £900m. Its parent company is Austrian firm Binderholz Group and its turnover is almost €2.8bn.

Mr Hackney and BSW chief financial officer Alan Milne will join the existing Scott Group board of directors, who will continue in their current roles.

“It’s a move which further strengthens our product and service offering,” Mr Hackney said.

He added: “It ties into our vision of not only making use of the full value of timber, but also achieving the best uses for timber across the BSW Group.

“Much like us, Scott Group has grown organically and through acquisition over the last decade.

“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.”

History of Scott Group

The Scott Group was founded in 1987 when James and Chris Scott bought a house in Gargunnock, Stirlingshire which had a wood mill within the grounds.

Following his death, James’ 18-year-old son John took over the business.

By 1995, when current boss Norman joined the firm, it had turnover of £1.2m.

A series of acquisitions meant that by the end of 2003, the business had added sites in England and Wales and grown turnover to £35m.

In 2010, it moved its headquarters to Halbeath. And in 2014 Scott Group committed to a announced the multi-million-pound investment for the regeneration of the Port at Burntisland.

Thaat created the firm’s pallet manufacturing facility

From humble beginnings, the group now operates 32 sites from Aberdeen to Devon.