We report the preparation, structure and magnetic properties of a new pillared complex, copper(II) hydroxy-1,4-butanedisulfonate, $Cu_2(OH)_3(O_3SC_4H_8SO_3)_{1/2}$. The titled compound was obtained by anion exchange, using copper hydroxyl nitrate $(Cu_2(OH)_3NO_3)$ as the starting material. According to the XRD data, this compound exhibits a pillared layered structure with organic layers tilted between the copper hydroxide layers with a tilt angle of $21.8^{circ}$. FTIR spectroscopy confirms total exchange of nitrate by the sulfonate and indicates that the sulfonate functions are linked to the copper(II) ions with each aliphatic chain bridging the adjacent hydroxide layers. According to the dc and ac magnetic measurements, the title compound is a metamagnet consisting of spin-canted antiferromagnetic layers, with a Neel temperature of 11.8 K.