Knights’ Corporate team led by Andrew Bradley and Victoria Inness has advised the owners of The Thurston Group on their sale of their business to the HLD Group of Companies, a private industrial investment group for an undisclosed sum.
Since its formation over 50 years ago, The Thurston Group has grown to become one of the longest-standing and highest performing modular construction and portable building manufacturers in the UK.
The investment in the Yorkshire based business enables the exit of certain shareholders and will support management to grow the business further. Jonathan Petch, CEO will remain with the organisation both in an executive capacity and as a shareholder in the new structure.
The HLD Group concentrates on industrial businesses in the manufacturing, engineering and materials distribution sectors and the acquisition of the Thurston Group brings the number of portfolio companies in the group to 15.
Andrew Bradley, Partner at Knights commented: “We’re really pleased to have supported Jonathan and the wider Thurston Group team. This deal will provide them with a great platform for continued growth. These are exciting times for the group and we wish them every success in the future.”
Jonathan Petch, The Thurston Group’s CEO, said: “This investment will support us in delivering our ambitious growth strategy in this exciting and expanding market. The team and I are grateful for the sound, practical and commercial advice Andrew, Victoria and their team gave us. Their support helped ensure the deal was delivered smoothly.”