Civil engineering contractor CJ Thorne & Co has bought a majority shareholding in Croydon-based surfacing specialist Hobart Paving for an undisclosed sum.

Civil engineering contractor CJ Thorne & Co has bought a majority shareholding in Croydon-based surfacing specialist Hobart Paving for an undisclosed sum.

Hobart, which employs 40 staff across Kent, Sussex and Surrey, will continue to operate under its own identity and be led by managing director Ed Roberts.

C J Thorne was advised on the various financial and tax issues of the deal by its auditor and tax adviser Russell New.

The firm’s team was led by partners Vince McLoughlin and Chris Checkley. McLoughlin said the firm managed the due diligence, advised on the structure of the deal and its tax implications as well as reviewing the agreements. “We are confident that the purchase will be of significant benefit to the continued growth of the group.”