Vp plc, the equipment rental specialist, announces the acquisition of two businesses.
Vp’s tool hire subsidiary Hire Station has acquired the entire issued share capital of Arcotherm (UK) Limited (‘Arcotherm’) for a cash consideration of £0.65m. Arcotherm, which has been established for over 15 years, is engaged in the hire and sale of heaters, air conditioners and dehumidifiers from branches in Stoke on Trent and Oxford. Arcotherm will be integrated within Climate Hire, Hire Station’s specialist cooling, heating, drying and environmental products activity.
Hire Station has also completed the purchase of the business and assets of DJ Tool Hire Ltd (in administration), a North East based tool hire company. This acquisition further strengthens Hire Station’s tool hire network in the North East.
John Singleton, Hire Station MD, commented:
‘The acquisition of Arcotherm represents a further important step in the establishment of Hire Station’s climate products business, Climate Hire, and brings with it a wealth of valuable expertise with the transferring management team.
The acquisition of the long established DJ business further enhances our distribution capability for tool hire and associated services in the North East of England.’
