Acquisition

5 Mar 2008 07:00

Vp PLC05 March 2008 Press Release 5 March 2008 Vp plc ("Vp" or "the Group") Acquisition Vp plc, the equipment rental specialist, today announces the acquisition, by itstool hire subsidiary Hire Station, of the entire issued share capital ofNorthern Site Services Limited and the business and assets of Northern SiteServices Test & Calibration Services ("NSS") for a cash consideration of £1.6million. At completion, NSS had £0.8 million of free cash. NSS, established in 1993, provides temporary lighting and site electricsprincipally to the petrochemical and industrial sectors from its Teesside basein Middlesbrough. NSS will be integrated with Hire Station's market leadingsafety rental activity, ESS Safeforce. In the year to 31 March 2007, NSSgenerated revenues of £0.5 million. Jeremy Pilkington, Chairman, commented: "NSS is an excellent fit for ESS Safeforce providing further expansion of itsspecialist safety equipment offering, in support of process industry shutdownactivities. The acquisition of NSS, and earlier in the financial year of Able Safety(Yorkshire) Limited, demonstrates our commitment to build on market leadingpositions within the specialist safety equipment market." - Ends - For further information please contact: Vp plcJeremy Pilkington, Chairman Tel: +44 (0) 1423 533 400jeremypilkington@vpplc.comNeil Stothard, Group Managing Director Tel: +44 (0) 1423 533 445neil.stothard@vpplc.com www.vpplc.comMike Holt, Group Finance Director Tel: +44 (0) 1423 533 445mike.holt@vpplc.com www.vpplc.com Media enquiries: Abchurch CommunicationsGrace Marriner /Sarah Hollins Tel: +44 (0) 113 203 1341sarah.hollins@abchurch-group.com www.abchurch-group.com Notes to editors About Vp 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. The Group is focused on six businesses: Hire Station Tools and specialist products for industry, construction and home owners. TPA Portable roadway systems, bridging, fencing and barriers primarily to the UKmarket, but also in the Republic of Ireland and mainland Europe. 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 Bukom 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