Acquisition and Trading Update

RNS Number : 8577B

Vp PLC

07 April 2017

 

For immediate release

7 April 2017

Vp plc

('Vp' or the 'Group')

Acquisition and Trading Update

Acquisition

Vp plc, the equipment rental specialist, today announces the acquisition of the business and assets of the mechanical and electrical equipment rental and sales activity of Jackson Mechanical Services (UK) Limited (JMS M&E) for a cash consideration of £3.6 million.

The JMS M&E rental activity operates from locations in Harpenden and Leeds and will be integrated into Hire Station, Vp's specialist tool hire business. Hire Station provides tool hire, safety equipment, low level access and press fitting equipment to industry, construction and other sectors in the UK.

Vp Trading Update

Since the interim results announcement on 29 November 2016, Vp has experienced positive trading conditions through the winter period and continues to make good progress.  The Board anticipates that the Group will deliver full year results in line with current market expectations for the year ended 31 March 2017.

Commenting on the acquisition, Jeremy Pilkington, Chairman of Vp plc, said:

"We are very pleased to welcome the JMS M&E team to the Vp Group.  This acquisition will provide additional strength to our successful Hire Station specialist businesses."

- Ends -

For further information:

Vp plc
Jeremy Pilkington, Chairman		Tel: [phone]
Neil Stothard, Chief Executive		www.vpplc.com
Allison Bainbridge, Group Finance Director
Media enquiries:
Buchanan
Henry Harrison-Topham / Jamie Hooper / Jane Glover		Tel: [phone]
[e-mail]	www.buchanan.uk.com

Notes to Editors

Vp plc is a specialist rental business providing products and services to a diverse range of markets including infrastructure, construction, housebuilding and oil and gas, both in the UK and overseas.

The Group comprises a UK and an International division:

UK

Groundforce

Excavation support systems and specialist products for the water, civil engineering and construction industries primarily in the UK, but also in the Republic of Ireland and mainland Europe.

Hire Station

Tools and specialist products for industry, construction and home owners.

Torrent Trackside

Infrastructure equipment and services for the railway renewals and maintenance industry.

TPA

Portable roadway access solutions to the transmission, outdoor events, construction and utility sectors in the UK, the Republic of Ireland and mainland Europe. 

UK Forks

Rough terrain material handling equipment and tracked access platforms for the housebuilding, general construction and industrial markets.

International

Airpac Bukom Oilfield Services

Equipment and service providers to the international oil and gas exploration and development markets.

TR Group

Specialist rental of test & measurement, communications and audio visual equipment to a breadth of markets including electrical, telecommunications, manufacturing, construction, defence, oil and gas, mining, and government in Australia, New Zealand and Malaysia.

Further information is available at www.vpplc.com/investors

 

END

 

 

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