23 Oct 2008 07:00
| 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: +44 (0) 1423 533 400 |
| jeremypilkington@vpplc.com | |
| Neil Stothard, Group Managing Director | Tel: +44 (0) 1423 533 445 |
| neil.stothard@vpplc.com | www.vpplc.com |
| Mike Holt, Group Finance Director | Tel: +44 (0) 1423 533 445 |
| mike.holt@vpplc.com | www.vpplc.com |
Media enquiries:
| Abchurch | |
| Sarah Hollins/ Ariane Comstive/ George Parker | Tel: +44 (0) 20 7398 7719 |
| george.parker@abchurch-group.com | 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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Vp (VP.)