Based near Dunfermline, with an annual turnover in excess of £250 million and 1,300 employees, Scott Group is a sustainable manufacturer of new, bespoke, and reconditioned timber pallets, producing over 30m pallets per year.

Founded in 1987, the firm operates across 32 sites, from Shetland to Devon, working with customers to promote the circular economy, which is emphasised by its pallet recovery, repair and reuse service, while it also operates a timber sourcing arm in Latvia.

Tony Hackney, CEO of BSW Group, said: “We’re absolutely thrilled to have acquired Scott Group. It’s a move which further strengthens our product and service offering.

“It ties into our vision of not only making use of the full value of timber, but also of achieving the best uses for timber across the BSW Group, whilst fully utilising the logistical firepower of the combined businesses. This strategic acquisition means that we are poised ready to serve our customers when we see the economic recovery and upturn.

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

Norman Scott, owner and group operations director at Scott Group, added: “This is a huge move for both Scott Group and the wider timber industry, helping us to cement our status as the UK’s most innovative manufacturer and supplier of timber pallets.

“It also helps us to ensure that we can work even closer with customers to provide solutions that fit their requirements and deliver value.”

With the acquisition of Scott Group, BSW Group now employs 3,000 people across the sector, and has an annual turnover of approximately £900m, with this acquisition Binderholz Group turnover reaching almost €2.8 billion (£2.4bn).

BSW CEO Tony Hackney and CFO Alan Milne will join the existing Scott Group board of directors, who will continue in their current roles.

Reinhard Binder, CEO of Binderholz Group, noted: “This transaction is a further step for our group to enlarge our product range, and a consequent step in following our strategy to invest in the value chain. Scott Group fits perfectly into our sustainable business model and zero-waste principle.”