06.11.2006

Vp acquires in Scotland

Vp, the UK rental group that includes UK Forks and Hire Station, previously known as Vibroplant, has acquired general tool rental company, MEP Hire of Bellshill, Hamilton Scotland.

Vp has paid £3.3 million in cash for the company, which will be incorporated into the Hire Station business. Vp says that all employees will remain with the business, including the management team.

For the year ended 31 January 2006 MEP reported revenues of £2.4 million with profits before tax and exceptionals of £600,000.

Jeremy Pilkington, chairman of Vp said:

“We are very pleased to acquire the MEP business which will complement Hire Station’s existing activities. The business fits our core criteria of being specialist with a strong market share in its chosen field. We look forward to working with the MEP management in continuing the excellent growth which they have delivered over recent years. More broadly, this acquisition for Hire Station reflects the significant progress that continues to be made in our tool hire division.”