Acquisition
November 28 2005 - 2:01AM
UK Regulatory
RNS Number:7328U
Vp PLC
28 November 2005
Vp plc
Central House, Beckwith Knowle, Otley Road,
Harrogate, North Yorkshire, HG3 1UD.
Tel : 01423 533400 Fax : 01423 565657
www.vpplc.com
28 November 2005
Vp plc
("Vp" or "the Group")
Acquisition
Vp plc, the equipment rental specialist, today announces the acquisition of the
business and assets of Dudley Vale, a division of GE Equipment Services Limited,
for a cash consideration of #3.53 million. The net asset value at completion
was approximately #2.2 million.
Dudley Vale is a leading provider of piling equipment to the construction, civil
engineering and utilities markets and operates from locations in Croydon and
Oldham. Dudley Vale's activities will be integrated into Vp's existing piling
equipment rental and sales activity, Piletec, and the combined business will
trade under the name Piletec Dudley Vale.
Piletec is a part of Groundforce which provides rental, sale and design of
shoring systems and allied services to the water, civil engineering and
construction industries.
Jeremy Pilkington, Chairman, commented:
"Dudley Vale will be an excellent complement to our existing Piletec activity
and I am very pleased that we have been able to acquire this reputable and long
established business. Following our acquisition earlier this month of Trax
Portable Access Limited, this latest transaction confirms Vp plc's commitment to
exploiting a strong balance sheet and low gearing for relevant and sustainable
expansion"
- 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
Justin Heath / Henry Harrison-Topham Tel: +44 (0) 20 7398 7700
justin.heath@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 now focused on six businesses:
TPA
TPA is a leading supplier of portable roadway systems, bridging, fencing and
barriers primarily to the UK market, but also in Ireland and mainland Europe.
For further information, please visit www.tpa-ltd.co.uk
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.
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 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
END
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