Stirling-based forestry company Tilhill bought out
A leading forestry company based in Stirling has been bought out by a national timber group.
Tilhill Forestry was established in 1948 and grew to become the UK's largest forest management and timber harvesting company.
It will now operate as a subsidiary of BSW Timber Limited, a Berwickshire-based firm which operates sawmills across the UK and in Latvia.
Tilhill was previously owned by Finnish forestry giant UPM.
The firm will retain its previous management and directorship, with three new board members joining from BSW.
BSW Timber is a £210m business, producing more than 1.2m cubic metres of sawn timber each year for the UK's construction, fencing and landscape markets.
Based in Earlston in the Borders, it already has a significant Scottish presence, with sawmills in Dumfries and Galloway, Fort William and East Lothian.
George McRobbie, who is staying on as managing director at Tillhill, said: "This is an exciting step in the development of Tilhill Forestry which has grown from sales of £18m when I joined the company in 2001 to £120m today.
"This change of ownership will allow the company to continue to grow while maintaining the professional standards that forest owners have come to expect from Tilhill Forestry."
Tony Hackey, chief executive of BSW Timber Limited, added: "The acquisition marks the beginning of a strengthened partnership in the forest industry that will deliver quality from beginning to end - from creating new forests through to producing timber end products.
"This significant acquisition creates the largest forest products company in the UK and underscores our ambition to increase the utilisation of UK timber."