Towell and Thornhill signed on a busy day at Easter Road
Hibernian have signed defender Richie Towell on loan from Celtic and completed the capture of Nottingham Forest midfielder Matt Thornhill.
They became Hibs boss Colin Calderwood's third signing of the day after Martin Scott arrived from Ross County for an undisclosed fee.
Thornhill signed a deal until summer 2013, his move having been delayed because of a bruised ankle injury.
The 19-year-old Irishman, Towell, arrives until the end of the season.
And the Republic of Ireland Under-21 defender told Hibs' website: "It is a brilliant move for me and I'm delighted to come to a big club like Hibernian.
"Now I want to make an impact in the team and help Hibernian to climb up the table.
"It would be brilliant to be able to make my debut against Rangers; games don't get any bigger than that.
Richie caught our attention when we played against Celtic in a bounce match
Hibernian manager Colin Calderwood
"Hopefully I can play some part in the game and help Hibernian win.
"The time with Hibernian will be massive for my development. I trained for the first time with the squad today and everything is really positive."
Calderwood stressed that Towell can play in midfield as well as his more usual right-back role.
"Richie caught our attention when we played against Celtic in a bounce match," he said.
"He will help to freshen up our squad and will be a good addition between now and the end of the season."
Thornhill, who had loan spells with Brighton and Cheltenham Town in previous seasons, has not played since making his only Forest appearance this term in a 2-1 Carling Cup defeat by Bradford City in August.
Calderwood thought that Wednesday's Scottish Premier League meeting with Rangers would come too soon for his new signing despite Hibs' run of 10 games without a win.
"I don't think it is appropriate that one training session in three weeks is the right preparation for a game of this magnitude," he said.
"Obviously we have always got that option, but in reality he will certainly not start."
Calderwood worked with the player while manager at the City Ground and had previously explained his qualities to the Hibs website.
"He is a dynamic player with terrific goal-scoring potential," he said. "I think he will give us extra options in the midfield area.
"He has a proven record of scoring goals and he is an uncomplicated player, who gets the job done.
"Matt is a player with a great work ethic and I believe that he will play a key role in the continued development of this football club."
Thornhill is pleased to have made the move to Edinburgh from Forest after having been frozen out the first team at the Championship high flyers this season.
"Colin is a manager who I believe will get the best out of me and I'm delighted to have the chance to play for him again," he said.
"The manager played a big part in my decision, but I was also impressed with the whole set-up at Hibernian.
"They are a big club in Scotland and I'm looking forward to playing for them as soon as possible."
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