Acquisition
April 18 2007 - 3:01AM
UK Regulatory
RNS Number:0395V
Vp PLC
18 April 2007
Press Release 18 April 2007
Vp plc
("Vp" or "the Group")
Acquisition
Vp plc, the equipment rental specialist, today announces that its tool hire
business, Hire Station, has acquired the entire issued share capital of Cool
Customers Limited and its holding company ("Cool Customers") for a cash
consideration of #1.0 million.
Cool Customers, established in 1997 and based in Alfreton, Derbyshire,
specialises in the hire and sale of air conditioning units, dryers, heaters and
chillers to a wide range of customers including the disaster recovery market.
Over the last 10 years, Cool Customers and its transferring management team have
built up a strong reputation for quality and service. In the year ended 31
March 2006, Cool Customers generated revenues of #1.2 million.
The acquired business will be integrated within Hire Station's specialist
offering of cooling, heating and environmental products, Climate Hire.
Jeremy Pilkington, Chairman, commented:
"The acquisition of Cool Customers is an important stepping stone in Hire
Station's plans to accelerate the development of Climate Hire, its climate
products division. Importantly it opens up new markets, including a successful
internet offering. Hire Station's latest acquisition re-affirms the ongoing
progress of our tool hire business."
- Ends -
For further information please contact:
Vp plc
Jeremy Pilkington, Chairman Tel: +44 (0) 1423 533 405
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
Justin Heath/ Helen Waggott/ Emma Johnson Tel: +44 (0) 113 203 1340
Justin.heath@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.
About Cool Customers
Established in 1997, its principle products are focussed on air conditioning,
heating and dehumidification. All products are portable and can be used on a
temporary or fixed basis.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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