Vp plc, the Harrogate-headquartered equipment rental specialist, has added to its portfolio of divisions with the acquisition of Test & Measurement Group Ltd for £3.95m.
Analysts upped their forecasts for Vp’s earnings per share in the next financial year by 2 per cent on the news.
Test & Measurement hires and sells specialist electrical instrumentation and environmental test equipment to the utilities, electrical engineering and oil and gas sectors across the UK. The business, which has been established for over 15 years, currently operates from two locations in Merseyside and Aberdeen.
Described by one commentator as “a classic Vp, niche acquisition in an attractive area”, the company is a good fit with the market-leading ESS Safeforce business in Vp’s Hire Station division.
Jeremy Pilkington, chairman of Vp plc, said: “We are very pleased to welcome the highly experienced Test & Measurement team to Vp. The acquisition of Test & Measurement is complementary to our well established, market leading, activities in the safety equipment rental sector.”
Vp was called Vibroplant until it rebranded in 2001.