The acquisition of Howie Forest Products by BSW Timber has been named “Acquisition of the Year” at the Insider Deals and Dealmakers awards 2010.
The prize recognises the most ambitious, innovative or successful acquisition for 2009/10.
BSW beat competition from Aberdeen Asset Management to take home the top award.
The November 2009 deal increased BSW’s sawn timber capacity to more than one million m³ per year.
Judges commended the transformational nature of BSW’s acquisition and were impressed that all Howie’s employees had been retained.
“The success of the deal is of particular importance given the difficult financial backdrop which underpinned the negotiations,” said BSW chief executive Tony Hackney.
“In addition, the fact that no private equity involvement factored into the deal ensures the value of the deal stays entirely in Scotland, strengthening its case for Acquisition of the Year.”
