15.10.2007

Vp adds to rail division

Rental company Vp, formerly known as Vibroplant and owner of UK Forks, has acquired the business and assets of First Engineering’s small plant division for £1.2 million.

First Engineering is a division of Babcock International, the acquired business will be absorbed by Vp’s Torrent Trackside business which provides infrastructure equipment and services to the rail industry,

The purchase includes a freehold property at Shettleston in Glasgow, and a three year supply agreement with First Engineering for the hire of rail portable plant, trackside lighting and equipment.

Jeremy Pilkington, chairman of Vp said: “The acquisition of the rail portable plant rental business of First Engineering is a significant development for Torrent Trackside and further enhances our strategic relationship and alliance with First Engineering. The acquisition builds on Torrent Trackside’s unrivalled reputation for quality in support of the rail industry and its ambition to be the supplier of choice.”

Vertikal Comment

This looks like a bargain although that depends on the detail of the assets acquired, on the surface though £1.2 million for a freehold property, a fleet of rail equipment and other assets plus a three year contract looks cheap.