Vp plc Acquisition
Vp plc, the equipment rental specialist, today announces the acquisition of the business and assets of two equipment rental activities from Balfour Beatty Group Ltd for a cash consideration of £4.0 million.
Hire Station, a division of Vp, has acquired Balfour Beatty Group Ltd's survey, safety and communication equipment rental business activity, which operates from locations in London and Glasgow. The acquisition includes a minimum three year framework agreement for the supply of these services to Balfour Beatty in the UK.
The UK Forks division of Vp has acquired Balfour Beatty Group Ltd's plant rental business activities operating from depots in Croydon and Exeter.
The acquisitions will be integrated into the respective Vp divisions.
Jeremy Pilkington, Chairman of Vp plc, commented:
"These acquisitions represent important developments for Hire Station and UK Forks and we look forward to further strengthening our business relationship with the Balfour Beatty Group following this transaction."