28.11.2005

VP Buys Piling company

VP, the rental company, previously known as Vibroplant, and parent of telehandler specialist, UK Forks, has purchased the business and assets of the Dudley Vale Piling division of GE equipment services, for a cash consideration of £3.53 million. The net asset value at completion was approximately £2.2 million.

Dudley Vale is a long established name in the UK piling industry having been formed in 1946, it is a leading specialist in the hire and sale of all types of piling and foundation equipment, with agency agreements for vibrators, hydrohammers and pile breakers.

Initially supplying sites in the London and the South East, it has over the years grown into a national provider with plant, service facilities and mobile fitters at three depots in Croydon, Restock, 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 VP’S Groundforce division, which provides rental, sale and design of shoring systems and allied services to the water, civil engineering and construction industries.

Jeremy Pilkington, Chairman of VP said:
"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"