08.11.2017

Vp acquires Brandon Hire

UK based rental group Vp has acquired Brandon Hire in an all share that values the company at £68.8 million, made up of £41.6 million in cash, plus debt of £27.2 million.

Established in 1971, Bristol based Brandon Hire employs over 900 at 143 locations across the UK. The company operates a full range of tool rental equipment which is similar to Vp's own tool business, Hire Station.

Vp chairman Jeremy Pilkington said: "The acquisition of a well established business of the size and quality of Brandon Hire is a significant development for Vp. We have, over recent years, developed an industry leading specialist tool hire business in the UK. This transaction represents a major step change in the scale and scope of our specialist tool hire offering. The Vp and Brandon Hire business cultures are closely aligned and we look forward to working with all of the Brandon Hire employees in developing the business further over the coming years."

Vp chief executive Neil Stothard added: "Brandon Hire is a long established, well managed profitable business which is an extremely positive addition to the Vp group. With an extensive branch network, Brandon Hire is an excellent geographic fit with our current specialist tool hire operations and we expect this acquisition to be earnings enhancing to the Group in the first twelve months of ownership."