Vp plc, the Harrogate-based equipment rental specialist, has today (30 July 2014) announced the acquisition of the business and assets of the trackside plant and equipment rental activity of Balfour Beatty Rail Limited (TP&E), part of the Balfour Beatty Group for a cash consideration of £5.5 million.
The TP&E rail equipment rental activity operates from a number of locations in the South East of England and will be integrated into Torrent Trackside, Vp’s specialist rail business. The acquisition includes a five year framework agreement for the hire of trackside plant and equipment to Balfour Beatty Rail across the UK.
Jeremy Pilkington, Chairman of Vp plc, commented:This transaction further strengths our business relationship with the Balfour Beatty Group and at the same time positions Torrent Trackside as the leading supplier of specialist portable rail equipment and associated services to the UK rail sector.
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 Services – Equipment and service providers to the international oil and gas exploration and development markets.
Groundforce – Excavation support systems and specialist products for the water, civil engineering and construction industries primarily in the UK, but also in the Republic of Ireland and mainland Europe.
Hire Station – Tools and specialist products for industry, construction and home owners.
Torrent Trackside – Infrastructure equipment and services for the railway renewals and maintenance industry.
TPA – Portable roadway access solutions to the transmission, outdoor events, construction and utility sectors in the UK, the Republic of Ireland and mainland Europe.
UK Forks – Rough terrain material handling equipment for the housebuilding, general construction and industrial markets.