Vp buys hire firm for £3.6m

Equipment hire firm Vp has bought mechanical and electrical equipment hirer Jackson Mechanical Services (JMS M&E) for £3.6m.'‹
Vp said it has seen positive trading through the winter period and continues to make good progressVp said it has seen positive trading through the winter period and continues to make good progress
Vp said it has seen positive trading through the winter period and continues to make good progress

JMS M&E'‹ operates from locations in '‹Leeds and '‹Harpenden and will be integrated into '‹Harrogate-based '‹Vp’s specialist tool hire business Hire Station, which provides tool hire, safety equipment, low level access and press fitting equipment to industry, construction and other sectors in the UK.'‹'‹'‹Vp's chairman'‹ Jeremy Pilkington said:'‹ "'‹This acquisition will provide additional strength to our successful Hire Station specialist businesses."In a trading update, Vp '‹said it has seen positive trading through the winter period and continues to make good progress.'‹The '‹group said it anticipates it will deliver full year results in line with current market expectations for the year t'‹o'‹ March '‹31.A'‹nalyst James Tetley at N+1 Singer said: "Vp has announced a positive pre-close update for the year to March '‹31 '‹alongside a bolt-on acquisition within the Hire'‹ '‹Station business. The '‹g'‹roup continues to make good progress and the '‹b'‹oard anticipates that full year results will be in'‹ '‹line with expectations. '‹"'‹This concludes another year of double digit '‹pre-tax profit'‹ growth, extending the excellent recent track'‹ '‹record. We expect Vp to continue to deliver attractive returns over coming periods with a favourable growth outlook'‹ '‹and the prospect of further accretive bolt-on acquisitions.'‹"

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