Last checked at 7 Apr 2017 07:00
For immediate release | 7 April 2017 |
Vp plc
('Vp' or the 'Group')
Acquisition and Trading Update
Acquisition
Vp plc, the equipment rental specialist, today announces the acquisition of the business and assets of the mechanical and electrical equipment rental and sales activity of Jackson Mechanical Services (UK) Limited (JMS M&E) for a cash consideration of £3.6 million.
The JMS M&E rental activity operates from locations in Harpenden and Leeds and will be integrated into Hire Station, Vp's specialist tool hire business. Hire Station provides tool hire, safety equipment, low level access and press fitting equipment to industry, construction and other sectors in the UK.
Vp Trading Update
Since the interim results announcement on 29 November 2016, Vp has experienced positive trading conditions through the winter 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 2017.
Commenting on the acquisition, Jeremy Pilkington, Chairman of Vp plc, said:
"We are very pleased to welcome the JMS M&E team to the Vp Group. This acquisition will provide additional strength to our successful Hire Station specialist businesses."
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For further information:
Vp plc |
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Jeremy Pilkington, Chairman | Tel: +44 (0) 1423 533 400 | |
Neil Stothard, Chief Executive | www.vpplc.com | |
Allison Bainbridge, Group Finance Director |
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Media enquiries: |
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Buchanan |
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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