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.
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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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
-
FTSE 100 hits record highs – why is it rising and will we see more gains?
Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
By Marc Shoffman Published
-
How to invest in copper
It may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
By Dominic Frisby Published