Vp acquires NSS via its tool hire subsidiary Hire Station 
(17/03/2008)
Vp plc, the equipment rental specialist, has announces the acquisition, by its tool hire subsidiary Hire Station, of the entire issued share capital of Northern Site Services Limited and the business and assets of Northern Site Services Test & Calibration Services ('NSS') for a cash consideration of £1.6 million. At completion, NSS had £0.8 million of free cash.
NSS, established in 1993, provides temporary lighting and site electrics principally to the petrochemical and industrial sectors from its Teesside base in Middlesbrough. NSS will be integrated with Hire Station's market safety rental activity, ESS Safeforce. In the year to 31 March 2007, NSS generated revenues of £0.5 million.
Jeremy Pilkington, Chairman, commented: "NSS is an excellent fit for ESS Safeforce providing further expansion of its specialist safety equipment offering, in support of process industry shutdown activities. The acquisition of NSS, and earlier in the financial year of Able Safety (Yorkshire) Limited, demonstrates our commitment to build on market leading positions within the specialist safety equipment market."
Related categories: Construction companies Construction Equipment Rental Oil, Gas and Utilities
