Local professionals cement reputations with concrete outcome for PJ Thory

08 May, 2024
Law firm Mills & Reeve and financial adviser Grant Thornton UK have advised Peterborough-based PJ Thory and its subsidiary Gemmix on key acquisitions. The former bought three quarry sites and the latter five ready-mix concrete facilities.
Toby Hare, Corporate Finance Director at Grant Thornton UK. Image courtesy – Grant Thornton.

All involved believe the acquisition has created the largest independently owned supplier of ready-mix concrete in the UK.

The 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.

James Hunter. Courtesy – Mills & Reeve

Mills & Reeve's team, led by corporate partner James Hunter and senior associate Sophie Denton, provided corporate legal advice with support from colleagues in competition, environmental, property and contracts teams.

Hunter said: “It was great working with the team at PJ Thory and Grant Thornton to conclude this deal. We had to support our client on the various complex issues relating to the sites, licences, competition requirements and business transfers. I am really pleased to see this successful family-owned business moving forward so confidently.”

Toby Hare, Corporate Finance Director at Grant Thornton UK, added: “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.”

For Grant Thornton, Toby Hare was assisted by one of the firm’s partners, Stuart Davies.