Vp PLC
05 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 its
tool hire subsidiary Hire Station, of the entire issued share capital of
Northern Site Services Limited and the business and assets of Northern Site
Services Test & Calibration Services ('NSS') for a cash consideration of £1.6
million. At completion, NSS had £0.8 million of free cash.
NSS, established in 1993, provides temporary lighting and site electrics
principally to the petrochemical and industrial sectors from its Teesside base
in Middlesbrough. NSS will be integrated with Hire Station's market leading
safety rental activity, ESS Safeforce. In the year to 31 March 2007, NSS
generated revenues of £0.5 million.
Jeremy Pilkington, Chairman, commented:
'NSS is an excellent fit for ESS Safeforce providing further expansion of its
specialist safety equipment offering, in support of process industry shutdown
activities.
The acquisition of NSS, and earlier in the financial year of Able Safety
(Yorkshire) Limited, demonstrates our commitment to build on market leading
positions within the specialist safety equipment market.'
- Ends -
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 Communications
Grace Marriner /Sarah Hollins Tel: +44 (0) 113 203 1341
sarah.hollins@abchurch-group.com www.abchurch-group.com
Notes to editors
About Vp
The principal activity of the Group is equipment rental and associated services
almost entirely conducted within the UK. Vp plc listed on the London Stock
Exchange 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 UK
market, but also in the Republic of Ireland and mainland Europe.
Torrent Trackside
Infrastructure equipment and services for the railway renewals and maintenance
industry.
Groundforce
Excavation support systems and specialist products 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 exploration and
development markets.
This information is provided by RNS
The company news service from the London Stock Exchange
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