Vp plc, the equipment rental specialist, today announces the acquisition of the business and assets of the trackside plant and equipment rental activity of Balfour Beatty Rail Limited (“TP&E”), part of the Balfour Beatty Group (“Balfour Beatty”) for a cash consideration of £5.5 million.
The TP&E rail equipment rental activity operates from a number of locations in the South East of England and will be integrated into Torrent Trackside, Vp’s specialist rail business. The acquisition includes a five year framework agreement for the hire of trackside plant and equipment to Balfour Beatty Rail across the UK.
Jeremy Pilkington, Chairman of Vp plc, commented:
“This transaction further strengths our business relationship with the Balfour Beatty Group and at the same time positions Torrent Trackside as the leading supplier of specialist portable rail equipment and associated services to the UK rail sector.”