Fri, 30 May 2025 | BUSINESS SALE
Thurston Group, a Wakefield-headquartered modular building manufacturer, has acquired the assets and intellectual property of Alsim System Building Limited, a Hull-based counterpart that fell into administration earlier this year.
The acquisition is expected to complement the company’s product offering, enabling it to expand its Cabins division and to manufacture a style of temporary living accommodation that is not currently available within its portfolio.
The deal reflects Thurston Group’s desire to solidify its leading position in the UK’s modular and portable building market. It follows the group’s investment into specialist fabrication business Storplan in February 2025, which increased its production capacity and gave it the ability to deliver larger structural steel projects and complex modular construction projects.
Thurston Group was founded in 1970 and now employs around 380 staff across four sites in East and West Yorkshire. The company, which was acquired by private industrial investment company HLD Group for £16 million in 2021, is on track to reach turnover of £60 million this year.
Alsim System Building was founded in 1992 and had established itself as a specialist in temporary living and secure accommodation, with a 52-strong team. However, the company began to experience financial difficulties in late 2024 and fell into administration in March 2025, with Andrew Nichols and John Butler of Redman Nichols Butler appointed as joint administrators.
Thurston Group Managing Director Matt Goff said that Alsim had been "long been respected for its design expertise and customer relationships within the construction sector.” According to Goff, acquiring the company’s assets and intellectual property will not only strengthen Thurston’s technical capability but also reinforce its standing “as a trusted, forward-thinking off-site manufacturer.”
He continued: "This acquisition enables us to support Alsim's existing customers with confidence, while enriching our design library and expanding the breadth of solutions we offer. Strategic moves like this are fundamental to Thurston's growth - we're actively seeking further opportunities to diversify, scale our capacity, and enhance our expertise to better serve a growing client base and cement our leadership in the modular industry."
In Alsim’s accounts for the year to November 30 2023, its fixed assets were valued at around £85,000 and current assets at £750,000, with net assets amounting to £173,000.
Download our free guide to acquiring distressed businesses and assets
This is a rare opportunity to acquire a drinks manufacturing business known for its sugar-free carbonates and waters, supplying both proprietary and own-brand products to major UK food retailers.
This Midlands-based fabricator and installer of aluminium curtain walling systems boasts a strong market presence with a solid future pipeline of work and includes valuable assets such as plant, machinery, and intellectual property rights.
Explore a unique opportunity to acquire the assets and intellectual property (excluding design rights) of a thriving Midlands garden outbuilding manufacturer, supported by over 15 skilled employees.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.