Vp acquires assets from Balfour Beatty

Vp, the equipment rental specialist, has acquired the business and assets of two equipment rental activities from Balfour Beatty Group.

The purchase was made for a cash consideration of £4.0m.

Under the transaction, Hire Station, a division of Vp, has acquired Balfour Beatty survey, safety and communication equipment rental business activity, which operates from both London and Glasgow. The acquisition includes a minimum three-year framework agreement for the supply of these services to Balfour Beatty in the UK.

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In addition, the UK Forks division of Vp has acquired Balfour Beatty's plant rental business activities operating from depots in Croydon and Exeter.

The acquisitions will be integrated into the respective Vp divisions.

Jeremy Pilkington, Chairman of Vp, said: "These acquisitions represent important developments for Hire Station and UK Forks and we look forward to further strengthening our business relationship with the Balfour Beatty Group following this transaction."

Vp's share price fell 2.71% to 295.75p by 10:15.

NR