Acquisition

RNS Number : 4738G

Vp PLC

23 October 2008

 



Press Release

23 October 2008

Vp plc

('Vp' or 'the Group')

Acquisition 

Vp plc, the equipment rental specialist, today announces the acquisition, by its subsidiary Hire Station, of the entire issued share capital of Power Tool Supplies Limited ('PTS'), a tool hire and sales company based in Brighton, for a cash consideration of £1.1 million.   In the year to 31 March 2008, PTS generated revenues of £2.3 million and reported profit before tax of £0.4 million. At completion, PTS had £0.2 million of free cash.

Jeremy Pilkington, Chairman of Vp said: 'PTS has been serving the Brighton area since 1983 and provides Hire Station with a high quality addition to its branch network.'  

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For further information please contact:

Vp plc
Jeremy Pilkington, Chairman	Tel: [phone]
[e-mail]
Neil Stothard, Group Managing Director	Tel: [phone]
[e-mail]	www.vpplc.com
Mike Holt, Group Finance Director	Tel: [phone]
[e-mail]	www.vpplc.com

Media enquiries:

Abchurch
Sarah Hollins/ Ariane Comstive/ George Parker	Tel: [phone]
[e-mail]	www.abchurch-group.com

Notes to editors

About Vp

The main activity of the Group is equipment rental and associated services principally conducted within the UK. Vp plc listed on the London Stock Exchange in 1973.

The Group is focused on six businesses:

Hire Station

Small tools and specialist equipment for industry and construction.

TPA

Portable roadway systems, bridging, fencing and barriers.  

Torrent Trackside

Rail infrastructure equipment and services.

Groundforce

Excavation support systems, trenchless technology and specialist solutions for the water, civil engineering and construction industries.

UK Forks

Rough terrain material handling equipment for industry, residential and general construction.

Airpac Bukom Oilfield Services

Equipment and service providers to the international oil and gas markets. 

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