A York-based specialist fabrication business has been acquired by one of the UK’s largest modular building manufacturers.
Thurston Group, which is based in Wakefield, acquired Storplan to increase its fabrication capacity and product offering.
The acquisition wil provide Thurston Group with secure access to Storplan’s 1,900m2 manufacturing facility, allowing it to undertake larger structural steel projects and more complex modular construction work, along with those involving cantilever racking and cages, warehouse racking and bespoke fabrications for buildings which will now be done under the Thurston brand.
Storplan was established in 2000 and has developed a reputation as a leading specialist fabricator and supplier of mezzanine floors, racking and partitioning for retail and industrial storage across the UK.
All of Storplan’s employees will be retained, and the additional site is expected to give Thurston Group the ability to consolidate fabrication, reducing the need for outsourcing, controlling costs, increasing productivity, and improving overall product quality control.
Thurston Group was founded in 1970 and employs circa 350 people across three sites in East and West Yorkshire. The business was acquired by private industrial investment company HLD Group in 2021 through a £16m asset-based lending (ABL) facility that formed part of the total acquisition cost.
Storplan was previously acquired in 2019 by MBP Holdings Ltd, which is also part of the HLD Group.
Collectively, Thurston Group and Storplan will oversee a substantial portfolio of over 100 clients with a combined turnover exceeding £60 million.
Matt Goff, managing director at Thurston Group said: “This strategic move creates a multitude of opportunities for both businesses, and we will be collaborating with Storplan’s existing management team, who will remain with the company.
“The acquisition demonstrates our dedication to growth and expansion, positioning us for sustained success and strengthening our industry standing. We look forward to driving innovation, seamlessly integrating Storplan’s strengths and experience into our operations, and delivering greater value to all our stakeholders.”
Demis Ohandjanian, CEO of HLD Group added: “This is an excellent partnership for both companies. Storplan joining forces with a company such as Thurston will allow the business to further develop, offer improved services, and build stronger, long-term customer relationships”.
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