Sale of Thurston Group Limited to HLD Group

Deal typeM&A
IndustryManufacturing & Real Estate
Sub-industryBuilding products & Construction & Engineering

BDO has advised the shareholders of Thurston Group Limited on its acquisition by private industrial investment group, The HLD Group of Companies.

Thurston is a leading expert in the design, manufacture and delivery of temporary and permanent modular buildings solutions. It has significant expertise providing modern construction options in the education, commercial and healthcare sectors.

The business was founded in 1970 producing light trailers and general fabrication and has since developed into a specialist manufacturer of modular and portable buildings utilised in numerous applications across the globe. Following an MBO in 1998 the business has gone from strength to strength, enjoying exceptional growth over recent years. The investment enabled the exit of certain inactive shareholders and will support management in the continued growth of the business. Jonathan Petch, CEO will remain with the organisation.

“The BDO team provided brilliant support to the Thurston shareholders throughout the sale process. The team’s diligent and proactive approach delivered a great outcome for all stakeholders.” 

Jonathan Petch, CEO, Thurston Group Limited

“We are delighted to have advised the shareholders on the sale of the business. Building on its expertise in the modular space, reputation for manufacturing excellence and recent operational expansion, the investment by HLD provides management the opportunity to continue to successfully grow the business in to the future."

Jason Whitworth, Partner, BDO