Mon, 10 Jun 2024 | BUSINESS SALE
National horticultural and green workplace service provider The Nurture Group has acquired Gristwood & Toms, an environmental services provider with expertise in the arboriculture sector.
The acquisition of the Hertfordshire-based firm is Nurture Group’s 47th acquisition in total and the biggest of the three it has completed in 2024 so far. The deal forms part of Nurture’s plans to expand into the arboriculture market as it seeks to bolster its comprehensive service offering portfolio.
Law firm Thomson Snell & Passmore advised Nurture Group on the deal. The law firm has advised the group on each of its acquisitions, other than the three transactions that it has completed in Scotland.
Gristwood & Toms is primarily known for its public sector work and is a member of the Arboricultural Association Approved Contractor Scheme. The firm has annual turnover in excess of £20 million and employs 153 staff across 13 UK depots.
Following the acquisition, Gristwood & Toms will operate as a wholly-owned subsidiary of Nurture Group, while retaining its existing brand. Andrew Brightman, Nurture Group's former Head of Bids & Sales Operations, has been appointed as Gristwood & Toms' new Managing Director.
Nurture Group Executive Chairman Peter Fane said that Gristwood & Toms was “an excellent fit” for the group. He continued: "The acquisition provides Nurture with a profitable and scalable platform, building on our existing presence in the arboriculture market and integrating our existing arboriculture work into the Gristwood & Toms brand, creating a new £28 million turnover vertical for the Nurture Group."
The transaction team at Thomson Snell & Passmore was led by Jason Varney, partner in the firm’s corporate department. Varney was assisted by Joe Hartland and Harry Roffey in the corporate team, with support from real estate partner Alisa Sweeney and employment department partner Ben Stepney.
Varney commented: “It is fantastic to work with ambitious and growing businesses and helping them to achieve their goals. It is particularly rewarding to support long-term clients such as Nurture Landscapes, building up a relationship over many years, which enables an in-depth understanding of their unique needs and aims."
Read more about the major factors that are driving M&A activity in the UK's environmental and sustainability services industry
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