Wakefield-based Thurston Group Ltd and two associated firms have been sold out of administration in a pre-pack deal, saving more than 200 jobs.
Privately owned industrial manufacturing and distribution firm GCH Corporation Ltd acquired the modular and offsite construction specialist for an undisclosed sum, administrators from Leonard Curtis announced on 23 December.
Hilary Pascoe, Andrew Poxon and Mike Dillon from Leonard Curtis were appointed as joint administrators for Thurston Holdings Ltd, Thurston Group Estates Ltd and Thurston Group Ltd the previous day.
Shoosmiths acted as solicitors and Gordon Brothers served as agents for Leonard Curtis in the sale.
Legal advisors Squire Patton Boggs, financial advisors Teneo and valuation partners Hilco acted for GCH.
London-based GCH posted a £3.1m loss from turnover of £124.1m in its latest accounts for the 2023 calendar year.
It employed a monthly average of 978 staff during the period.
Thurston Group Ltd is the main trading business among the three firms bought by GCH. It was founded in 1970 as BTH Trailers Ltd.
In 2021, the business was acquired by private industrial investment company HLD Group in a £16m deal.
Its latest accounts showed a pre-tax profit of £3.3m on turnover of £46.5m for the year to 31 October 2024.
Thurston Group employed 275 staff, Leonard Curtis said in a statement.
It described “several business challenges” that prompted the firm to instruct administrators in November 2025 to conduct an accelerated mergers and acquisitions process to identify a purchaser.
GCH Corporation emerged as the successful bidder following “considerable interest”, Leonard Curtis said.
“The deal has successfully protected over 200 jobs,” the administrators added.
GCH chief executive Cassie Hutchings said the new owners are “committed to stabilising and investing in the business”.
Thurston Group currently holds positions on several major public-sector frameworks, including LHC Procurement Group’s £265m modular buildings framework, the £3bn Major Works Education Framework in London, and the £500m Modular Buildings 3 framework from NHS Shared Business Services.
In January, Thurston acquired Storplan Racking Ltd for £800,000, describing the deal as a strategic investment to support the group’s ongoing growth and development.
Four months later it bought Alsim System Building, a Yorkshire-based manufacturer of temporary living and secure accommodation units that had entered administration, for an undisclosed sum.
As recently as June, the company said it was targeting turnover of £104m by 2027, underpinned by a digital transformation strategy that includes a partnership with software-as-a-service provider WrxFlo.
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Ben Vogel