Acquisition

18 Apr 2007 07:01

Vp PLC18 April 2007 Press Release 18 April 2007 Vp plc ("Vp" or "the Group") Acquisition Vp plc, the equipment rental specialist, today announces that its tool hirebusiness, Hire Station, has acquired the entire issued share capital of CoolCustomers Limited and its holding company ("Cool Customers") for a cashconsideration of £1.0 million. Cool Customers, established in 1997 and based in Alfreton, Derbyshire,specialises in the hire and sale of air conditioning units, dryers, heaters andchillers to a wide range of customers including the disaster recovery market.Over the last 10 years, Cool Customers and its transferring management team havebuilt up a strong reputation for quality and service. In the year ended 31March 2006, Cool Customers generated revenues of £1.2 million. The acquired business will be integrated within Hire Station's specialistoffering of cooling, heating and environmental products, Climate Hire. Jeremy Pilkington, Chairman, commented: "The acquisition of Cool Customers is an important stepping stone in HireStation's plans to accelerate the development of Climate Hire, its climateproducts division. Importantly it opens up new markets, including a successfulinternet offering. Hire Station's latest acquisition re-affirms the ongoingprogress of our tool hire business." - Ends - For further information please contact: Vp plcJeremy Pilkington, Chairman Tel: +44 (0) 1423 533 405jeremypilkington@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 CommunicationsJustin Heath/ Helen Waggott/ Emma Johnson Tel: +44 (0) 113 203 1340Justin.heath@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. About Cool Customers Established in 1997, its principle products are focussed on air conditioning,heating and dehumidification. All products are portable and can be used on atemporary or fixed basis. This information is provided by RNS The company news service from the London Stock Exchange