Date03 Jun 2021
The P&M Group Limited, a specialist in the design, manufacture and installation of cold stores, food processing facilities, chill stores and distribution centres, has acquired Tysoe Holdings Limited, advised by Azets.
The Tysoe Group, has been a subcontractor of The P&M Group for over 25 years and this deal is part of a long-term growth strategy for the latter to strengthen its capacity and expertise in a specialist sector and ensure sustainability of the businesses. The long-term relationship between the parties means that the senior team had been working closely, particularly in relation to the challenges posed in the sector by Brexit and the COVID-19 pandemic.
Both parties were keen that the transaction was the right one, mindful of the wider economic landscape, with the integration of the specialist labour force and complementary specialist service lines into The P&M Group increasing efficiency and supporting the Group’s overall development. The integration of the two businesses is also proving its success with the securing of a large new contract for the combined group.
Andy Moon, Chairman of The P&M Group Limited, said: “Completing on this deal is a monumental occasion for the company – it’s evidence that we’re growing within our specialist industry and the acquisition of Tysoe Holdings Limited will further enhance our expertise and capabilities. We’ve been working closely with Tysoe Group for many years and our businesses have grown in tandem. Having a labour company as part of the group will help us maintain consistently high standards, particularly regarding quality and health and safety. We were grateful to be assisted by the specialist advisory teams at Azets through the process, the size of which we are not used to, and look forward to continuing our relationship.”
Katherine Broadhurst, Corporate Finance Partner at Azets, added: “This is an exciting acquisition for The P&M Group which strengthens their position in a technical sector in which they are seen as leading experts. It was a pleasure to support the company and their lawyers to provide a collaborative approach to the transaction.”
The P&M Group Limited is based in Gloucester and specialises in the design, manufacture and installation of food processing facilities, cold and chill stores, and distribution centres.