Last checked at 25 Apr 2017 07:00
For immediate release | 25 April 2017 |
Vp plc
('Vp' or the 'Group')
Acquisition and Notice of Final Results
Acquisition
Vp plc, the equipment rental specialist, today announces the acquisition of the entire issued share capital of Zenith Survey Equipment Limited ('Zenith') for a cash consideration of £3.85 million plus assumed debt of £2.3 million.
Zenith was founded in 1986 and trades as Zenith Survey in England & Wales, and Survey Connection in Scotland. The business is engaged in the specialist rental and sale of survey and safety equipment from seven locations across the UK.
Zenith primarily serves the construction and civil engineering sectors, and will be integrated within ESS Safeforce, part of Hire Station, Vp's specialist tool hire business.
Commenting on the acquisition, Jeremy Pilkington, Chairman of Vp plc, said:
"The acquisition of a well established business like Zenith represents an important expansion of Vp's specialist tool hire activities. I am delighted to welcome the experienced Zenith team to the Vp Group."
Notice of Final Results
The Group will be announcing its Final Results for the year ended 31 March 2017 on Tuesday, 6 June 2017.
An analyst briefing given by Jeremy Pilkington (Executive Chairman), Neil Stothard (Chief Executive) and Allison Bainbridge (Group Finance Director), will be held at 09.30hrs on Tuesday, 6 June 2017 at the offices of Buchanan, 107 Cheapside, London, EC2V 6DN.
- Ends -
For further information:
Vp plc |
| |
Jeremy Pilkington, Chairman | Tel: +44 (0) 1423 533 400 | |
Neil Stothard, Chief Executive | www.vpplc.com | |
Allison Bainbridge, Group Finance Director |
| |
|
| |
Media enquiries: |
| |
Buchanan |
| |
Henry Harrison-Topham / Jamie Hooper / Jane Glover | Tel: +44 (0) 20 7466 5000 | |
Vp@buchanan.uk.com | www.buchanan.uk.com | |
Notes to Editors
Vp plc is a specialist rental business providing products and services to a diverse range of markets including infrastructure, construction, housebuilding and oil and gas, both in the UK and overseas.
The Group comprises a UK and an International division:
UK
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 and tracked access platforms for the housebuilding, general construction and industrial markets.
International
Airpac Bukom Oilfield Services
Equipment and service providers to the international oil and gas exploration and development markets.
TR Group
Specialist rental of test & measurement, communications and audio visual equipment to a breadth of markets including electrical, telecommunications, manufacturing, construction, defence, oil and gas, mining, and government in Australia, New Zealand and Malaysia.
Further information is available at www.vpplc.com/investors