Vp Regulatory News (VP.)

28 Nov 2005 07:01

Vp PLC28 November 2005 Vp plc Central House, Beckwith Knowle, Otley Road, Harrogate, North Yorkshire, HG3 1UD. Tel : 01423 533400 Fax : 01423 565657 www.vpplc.com 28 November 2005 Vp plc ("Vp" or "the Group") Acquisition Vp plc, the equipment rental specialist, today announces the acquisition of thebusiness and assets of Dudley Vale, a division of GE Equipment Services Limited,for a cash consideration of £3.53 million. The net asset value at completionwas approximately £2.2 million. Dudley Vale is a leading provider of piling equipment to the construction, civilengineering and utilities markets and operates from locations in Croydon andOldham. Dudley Vale's activities will be integrated into Vp's existing pilingequipment rental and sales activity, Piletec, and the combined business willtrade under the name Piletec Dudley Vale. Piletec is a part of Groundforce which provides rental, sale and design ofshoring systems and allied services to the water, civil engineering andconstruction industries. Jeremy Pilkington, Chairman, commented: "Dudley Vale will be an excellent complement to our existing Piletec activityand I am very pleased that we have been able to acquire this reputable and longestablished business. Following our acquisition earlier this month of TraxPortable Access Limited, this latest transaction confirms Vp plc's commitment toexploiting a strong balance sheet and low gearing for relevant and sustainableexpansion" - ENDS - For further information please contact: Vp plc Jeremy Pilkington, Chairman Tel: +44 (0) 1423 533 445jeremypilkington@vpplc.com www.vpplc.comNeil Stothard, Group Managing Directorneil.stothard@vpplc.comMike Holt, Group Finance Directormike.holt@vpplc.comAbchurch Justin Heath / Henry Harrison-Topham Tel: +44 (0) 20 7398 7700justin.heath@abchurch-group.com www.abchurch-group.com Notes to Editors: The principal activity of the Group is equipment rental and associated servicesalmost entirely conducted within the UK. Vp plc listed on the London StockExchange in 1973. For the year ended 31 March 2005, Group turnover was £90.0million. The Group is now focused on six businesses: TPA TPA is a leading supplier of portable roadway systems, bridging, fencing andbarriers primarily to the UK market, but also in Ireland and mainland Europe.For further information, please visit www.tpa-ltd.co.uk Hire Station Tools and specialist products for industry, construction and home owners. Torrent Trackside Infrastructure equipment and services for the railway renewals and maintenanceindustry. Groundforce Excavation support systems and specialist products for the water, civilengineering and construction industries. UK Forks Rough terrain material handling equipment for industry, residential and generalconstruction. Airpac Oilfield Services Equipment and service providers to the international oil and gas exploration anddevelopment markets. This information is provided by RNS The company news service from the London Stock Exchange