17.05.2010

Vp Acquires

UK based Vp the owner of UK Forks, the telehandler rental specialist has acquired the entire share capital of Harbray (Plant Hire), a pipeline pressure testing rental business based in Aylesford, Kent for a cash consideration of £900,000.

Harbray had £300,000 of free cash on completion, reducing the effective cost of the acquisition to £600,000. Harbray will be integrated into Vp's Groundforce division.

Vp chairman Jeremy Pilkington said: "The acquisition of Harbray further enhances our pipeline pressure testing offering within Groundforce and brings with it a wealth of expertise, which will benefit our combined customer base".