After reporting a strong growth in profits, tool hire brand, Vp, has announced that it has purchased another specialist rental firm.
According to sources, the Harrogate-based company has paid £3.3m for Sandhurst, extending its portfolio of rental products dramatically. Vp will now be able to rent out excavator attachments to the construction industry via Sandhurst, further positioning itself as a go-to company for all things tool and equipment hire.
Said to have paid cash for the company, the Vp team are thrilled with this latest acquisition.
Jeremy Pilkington, chairman of Vp, said: “The acquisition of Sandhurst adds another new product specialisation to Vp’s UK portfolio and I am delighted to welcome the experienced Sandhurst team to the Vp Group.”
Earlier this month, Vp shared details of their profits, telling of progress in both their UK and international ventures. This has arguably been bolstered by their recent purchase of popular tool hire brand and competitor; Brandon Hire. Bought back in November of this year, Brandon Hire has now been rebranded, using the name Brandon Hire Station going forward. A full acquisition should be complete by the end of this financial year.
On an international level, Vp is also achieving great things, with its test and measurement business in the Asian Pacific also doing rather well.
The group is expected to announce their full year figure on June 4.
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