Vp PLC : Acquisition and Trading Update

Press Release

1 March 2016

Vp plc

("Vp" or "the Group")

Acquisition and Trading Update

Acquisition
Vp plc, the equipment rental specialist, today announces the acquisition of the entire issued share capital of Higher Access Ltd ("Higher Access") for a consideration of £4.1 million.

Higher Access is engaged in the rental of specialist tracked access platforms, and is the market leader in the UK.  The company operates from two locations in Burnley and Luton.  The business, which has been established for over 10 years, provides equipment and associated services to the construction, transmission and utilities sectors across the whole of the UK.

Higher Access will operate alongside Vp's specialist material handling business, UK Forks.

Vp Trading Update
The Vp business has experienced a satisfactory winter trading period and continues to make good progress.  The Board anticipates that the Group will deliver full year results in line with current market expectations for the year ended 31 March 2016.

Jeremy Pilkington, Chairman of Vp plc, commented on the acquisition:
"We are very pleased to welcome the Higher Access team to the Vp group.  The acquisition will be an excellent complement to our strong UK Forks business, and fits the Vp model of developing specialist rental businesses with strong market positions."

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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]
Allison Bainbridge, Group Finance Director	Tel: [phone]
[e-mail]

Media enquiries:

Abchurch Communications
Jamie Hooper / Alex Shaw	Tel: [phone]
[e-mail]	www.abchurch-group.com

Notes to editors:

Vp plc is a specialist rental business providing products and services to a diverse range of markets including civil engineering, rail, oil and gas exploration, construction, outdoor events and industry, primarily within the UK, but also overseas.

The Group is focused on six businesses:

Airpac Bukom Oilfield Services
Equipment and service providers to the international oil and gas exploration and development markets.

Groundforce
Excavation support systems and specialist products for the water, civil engineering and construction industries primarily in the UK, but also in the Republic of Ireland and mainland Europe.

Hire Station
Tools and specialist products for industry, construction and home owners.

Torrent Trackside
Infrastructure equipment and services for the railway renewals and maintenance industry.

TPA
Portable roadway access solutions to the transmission, outdoor events, construction and utility sectors in the UK, the Republic of Ireland and mainland Europe. 

UK Forks
Rough terrain material handling equipment for the housebuilding, general construction and industrial markets.

Further information available at www.vpplc.com

 

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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Vp PLC via Globenewswire

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