Thurston Group has completed its second acquisition this year after buying the assets and intellectual property of a failed manufacturer of temporary living and secure accommodation units.
The Wakefield-based modular and portable building specialist has sealed the acquisition of Alsim System Building for an undisclosed sum. Alsim went into administration in March, according to a Gazette notice.
Thurston, which is owned by a London-based investment firm, said the deal will allow it to expand its cabins division and offer an extra style of temporary living accommodation.
Hull-based Alsim had been in business for 33 years and employed 52 people before experiencing financial difficulties in late 2024, according to Thurston.
All of Alsim’s staff were made redundant following its collapse, Thurston said.
However, a spokesperson told Construction News the firm intended to “engage with former employees wherever possible as the business integrates the Alsim offer”.
Thurston’s managing director Matt Goff said: “Alsim has long been respected for its design expertise and customer relationships within the construction sector.
“By acquiring its assets and IP, we’re not only strengthening our own technical capability but also reinforcing our position as a trusted, forward-thinking offsite manufacturer.”
In March, Thurston acquired Storplan, a specialist fabrication business with a factory in York.
Thurston was founded in 1970 and employs around 380 people across four sites in East Yorkshire and West Yorkshire.
It was acquired by investment firm HLD Group in 2021 in a £16m deal.
In its last reported full-year to the end of October 2023, Thurston recorded a pre-tax profit of £3.5m off turnover of £51m, according to accounts filed at Companies House.
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James Wilmore