Vp plc, the equipment rental specialist, today announces the acquisition of the entire issued share capital of TechRentals NZ Ltd ("TRNZ") for a cash consideration of NZ$2.592 million (New Zealand dollars).
TRNZ is engaged in the specialist rental of test & measurement equipment and calibration services in New Zealand.� The business, which has been established for over 30 years, currently operates from a single location in Auckland, New Zealand.
In April 2016, Vp plc announced the acquisition of TR Pty Ltd ("TR"), also engaged in the specialist rental of test & measurement equipment and provider of calibration services in Australia and Malaysia.
TRNZ used to be part of the TR group of companies but was disposed of under previous ownership in 2009.� The TRNZ business will operate within the wide TR group of businesses which have existing activities in Australia, New Zealand and Malaysia.
Jeremy Pilkington, Chairman of Vp plc, commented:
"We are delighted to welcome the experienced TRNZ back to the TR Group and also to the wider team at Vp.� The acquisition of TRNZ further increases the TR Group's exposure to the healthy New Zealand market."
Vp plc is a specialist rental business providing products and services to a diverse range of markets including infrastructure, construction, housebuilding and oil and gas, both in the UK and overseas.
The Group comprises a UK and an International division:
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
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 and tracked access platforms for the housebuilding, general construction and industrial markets.
Airpac Bukom Oilfield Services - Equipment and service providers to the international oil and gas exploration and development markets.
TR Group - Specialist rental of test & measurement, communications and audio visual equipment to a breadth of markets including electrical, telecommunications, manufacturing, construction, defence, oil and gas, mining, and government in Australia, New Zealand and Malaysia.
Further information is available at www.vpplc.com/investors