Wednesday, May 29, 2024

PJ Thory and Gemmix make quarry and concrete site acquisitions

Grant Thornton UK LLP’s corporate finance team in the East of England has advised PJ Thory on the acquisition of three quarry sites and Gemmix on the acquisition of five ready-mix concrete sites which is believed to make it the largest independently owned supplier of ready-mix concrete in the UK.

These transactions add to the Group’s well-established operations, acquiring the sites from Heidelberg Materials, which was forced to sell them by the Competition and Markets Authority following its acquisition of Mick George Group.

The ready-mix concrete sites are in Cambridgeshire, Northamptonshire and Leicestershire, while the quarries are located in Norfolk and Northamptonshire.

Toby Hare, Corporate Finance Director at Grant Thornton UK LLP, said: “We are delighted to get this deal over the line, it’s been a complex, rigorous, fast-paced and at times challenging, process.

“PJ Thory has successfully executed multiple opportunistic acquisitions by providing a synergistic fit for the Heidelberg sites, making it the leading independently owned provider in the UK.

“Being deeply embedded within the regional landscape, the team is proud to be supporting another trusted local company on the next, exciting chapter in its growth journey.”

Toby Hare was assisted by Grant Thornton partner Stuart Davies. A Mills & Reeve team made up of James Hunter and Sophie Denton has provided corporate legal advice with support from colleagues in regulatory, property and contracts.

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