Vp plc, the equipment rental specialist, announces the acquisition of the entire issued share capital of Zenith Survey Equipment Limited ('Zenith') for a cash consideration of £3.85 million plus assumed debt of £2.3 million.
Zenith was founded in 1986 and trades as Zenith Survey in England & Wales, and Survey Connection in Scotland. The business is engaged in the specialist rental and sale of survey and safety equipment from seven locations across the UK.
Zenith primarily serves the construction and civil engineering sectors and will be integrated within ESS Safeforce, part of Hire Station, Vp's specialist tool hire business.
Commenting on the acquisition, Jeremy Pilkington, Chairman of Vp plc, said:
"The acquisition of a well established business like Zenith represents an important expansion of Vp's specialist tool hire activities. I am delighted to welcome the experienced Zenith team to the Vp Group."