Vp PLC
25 July 2005
Press Release 25 July 2005
Vp plc
Acquisition
Vp plc, the equipment rental specialist, today announces the acquisition by its
subsidiary Hire Station Limited of the businesses and assets of Pivotal Services
Group Limited, a wholly owned subsidiary within Babcock International Group plc,
for a cash consideration of £4.5 million. The net asset value at completion
was approximately £2.1 million. The businesses acquired comprise ESS Safety
Services and Pivotal Training and they operate from locations in Wellingborough,
Leeds, Brentwood and Glasgow.
ESS Safety Services is a market leading provider of safety products to the
construction, civil engineering, utilities and industrial markets. This
business will be merged with Hire Station's existing safety products rental and
sales activity, Safeforce. The combined business will trade as ESS Safeforce,
and provide a comprehensive rental, sale and maintenance service for safety
products to the UK market.
Pivotal Training, which will continue to trade under its existing name, delivers
a wide range of courses including confined space, health and safety,
environmental and management development training.
Hire Station provides tools, specialist products and services to industry and
construction.
Jeremy Pilkington, Chairman, commented:
'We are very pleased to have secured this acquisition which represents a unique
opportunity for Hire Station to acquire the market leader in safety equipment
provision and confined space training. Hire Station's specialist products and
services business will be significantly enhanced as a result of this
acquisition.'
- Ends -
For further information please contact:
Vp plc
Jeremy Pilkington, Chairman Tel: +44 (0) 1423 533 445
jeremypilkington@vpplc.com www.vpplc.com
Neil Stothard, Group Managing Director
neil.stothard@vpplc.com
Mike Holt, Group Finance Director
mike.holt@vpplc.com
Abchurch
Sarah Hollins / Justin Heath Tel: +44 (0) 113 390 6388
sarah.hollins@abchurch-group.com www.abchurch-group.com
Notes to Editors
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.
For the year ended 31 March 2005, Group turnover was £90.0 million.
The Group is focused on five businesses:
Torrent Trackside
Infrastructure equipment and services for the railway renewals and maintenance
industry.
Hire Station
Tools and specialist products for industry, construction including Safeforce -
safety and environmental products and Lifting Point - materials handling and
lifting gear hire.
UK Forks
Rough terrain material handling equipment for industry, residential and general
construction.
Groundforce
Excavation support systems and specialist products for the water, civil
engineering and construction industries, including Piletec - pile driving and
breaking; Stopper Specialists - pipe integrity testing; Survey Technology -
surveying and water flow measurement.
Airpac 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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