BSW Group Enters Joint Venture With Power Sheds
The largest integrated timber and forestry business in the UK, and a member of Binderholz, BSW Group has entered a joint venture with Power Sheds.
BSW has acquired a stake in the Yorkshire business, which has become a major disruptor in the sector since launching in 2019, now with a turnover in excess of £15m.
Power Sheds manufactures wooden garden buildings such as sheds and summerhouses, and the company has won a raft of industry awards, including ‘Start Up of the Year 2022’.
CEO Jack Sutcliffe and Director Simon Hobson will remain in control of the business and continue to drive it forward, with BSW Group CFO Alan Milne also joining the board.
Alan explained: “We are really impressed with the rapid growth and success that Power Sheds has achieved in only three years, so the team is very excited to develop a relationship and help it expand to its potential. We are very much looking forward to working together.”
Tony Hackney, CEO of BSW Group, added: “This is a great win for us and gives us the opportunity to supply a 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 timber processing group in Europe, with access to markets on a global scale. They aim to diversify and widen the success of Power Sheds, who already have 75 employees.
CEO Jack Sutcliffe said: “Our new partnership with BSW Group is really exciting for the company, giving us a great opportunity to build Power Sheds into a world-wide brand and break into new markets such as the US and Europe. I’m looking forward to building the business even further and seeing where it takes us over the next few years.”
“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. We can’t wait to see what this means for our development and growth.”
Power Sheds were advised by Schofield Sweeney (Legal) and BPR Heaton Chartered Accountants (Corporate Finance). BSW were advised by Burges Salmon (Legal) and PWC (Financial and Tax).
Source: BSW Timber Ltd.