Business
Vp PLC : Acquisition and Trading Update
Vp PLC : Acquisition and Trading Update.
About this update from Vp Plc
[{"type":"text","content":"\n Vp PLC : Acquisition and Trading UpdatePress Release 1 March 2016Vp plc(\"Vp\" or \"the Group\")Acquisition and Trading UpdateAcquisitionVp plc, the equipment rental specialist, today announces the acquisition of the entire issued share capital of Higher Access Ltd (\"Higher Access\") for a consideration of £4.1 million.Higher Access is engaged in the rental of specialist tracked access platforms, and is the market leader in the UK. The company operates from two locations in Burnley and Luton. The business, which has been established for over 10 years, provides equipment and associated services to the construction, transmission and utilities sectors across the whole of the UK.Higher Access will operate alongside Vp's specialist material handling business, UK Forks.Vp Trading UpdateThe Vp business has experienced a satisfactory winter trading period and continues to make good progress. The Board anticipates that the Group will deliver full year results in line with current market expectations for the year ended 31 March 2016.Jeremy Pilkington, Chairman of Vp plc, commented on the acquisition:\"We are very pleased to welcome the Higher Access team to the Vp group. The acquisition will be an excellent complement to our strong UK Forks business, and fits the Vp model of developing specialist rental businesses with strong market positions.\"- Ends -For further information please contact: Vp plc Jeremy Pilkington, Chairman Tel: +44 (0) 1423 533 400 [email protected] Neil Stothard, Group Managing Director Tel: +44 (0) 1423 533 400 [email protected] Allison Bainbridge, Group Finance Director Tel: +44 (0) 1423 533 400 [email protected] Media enquiries:Abchurch Communications Jamie Hooper / Alex Shaw Tel: +44 (0) 207 398 7719 [email protected] to editors:Vp plc is a specialist rental business providing products and services to a diverse range of markets including civil engineering, rail, oil and gas exploration, construction, outdoor events and industry, primarily within the UK, but also overseas.The Group is focused on six businesses:Airpac Bukom Oilfield ServicesEquipment and service providers to the international oil and gas exploration and development markets. GroundforceExcavation support systems...