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EXECUTIVE NEWS


Vp BUYS BRANDON


Vp plc has acquired the entire issued share capital of Brandon Hire Group Holdings Ltd and its subsidiaries for a cash consideration of £41.6m, payable on completion and assumed net debt of approximately £27.2m. The acquisition has been funded from new banking facilities with the Group's lenders. Brandon has over 900 employees and operates from 143 locations


across the UK. Vp Chief Executive Neil Stothard told EHN that the intention is to retain all personnel, and to combine the business with Vp’s own tool hire activity Hire Station, headed by Brian Sherlock, its MD - Core Tools. “We had been looking to expand Hire Station organically, but the opportunity to acquire Brandon has now enabled us to do this in one fell swoop,” said Neil Stothard. “Brandon is extremely strong in serving SMEs (small to medium


Charles Wilson shines with Trime


Charles Wilson Engineers, which recently opened a new depot in Huntingdon, has added more Trime X-Eco LED mobile lighting towers to its fleet, which are designed for low levels of fuel consumption and emissions.


This brings its total number of these machines to more than 350, having already ordered 100 earlier this year. Director Graham Pollard said, “The success we have enjoyed


in hiring out the Trime sets during the past year made this new investment in further X-Ecos an easy decision to make. Our customers appreciate the cost savings that the units offer and we enjoy the benefits of the long-life LED lamps and simple servicing. In addition, the compact dimensions of the machine mean that we can open up additional storage space and increase our transport vehicle fleet utilisation.”


Climbers reach new heights with Astley Hire


Astley Hire of Leigh is amongst several local organisations that have donated equipment and services to help with the construction of a training wall in Manchester. The facility will be used by the GB climbing team preparing for the 2018 Winter Olympics in Pyeongchang and the Summer Olympics in Tokyo. The hirer provided a scissor lift free for ten weeks to help with constructing the 30m long


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by 5m high wall at the Rock Over Climbing centre in Manchester, which has been developed in a former warehouse and offers 24 different training challenges. Centre owner, Tom Stewart, who is pictured


left, with Astley Hire MD Stephen Dorricott, said that the machine enabled the project to be completed more quickly than anticipated and it was also used for roofing work.


sized enterprises) and that is where we want to be better established. Brandon also has a business culture similar to ours, is nearly 50 years old while Vp has been established more than 60 years, and both organisations have expanded steadily.” Neil Stothard said that, while there is inevitably some overlap in


Brandon and Hire Station depots, the latter tend to be in larger city-based locations, while many Brandon outlets serve smaller towns, and so complement each other. “Brandon is an excellent geographic fit with our current specialist tool hire operations and we expect this acquisition to be earnings enhancing to the Group in the first 12 months of ownership.” For the year ended 31 December 2016, Brandon’s revenues were


£79.8m, generating profits before interest, tax, exceptionals and amortisation of £6.0m from gross assets of £50.6m.


GAP opens up in Bridgwater


GAP has opened a new depot in Bridgwater, Somerset. The new location is on a 0.6-acre site and will provide coverage in areas between the hirer’s existing Bristol and Exeter depots providing small tools, accessories and plant up to and including 3-tonne machines. GAP’s South West Regional Operations Director, Andrew Feltham,


said, “The new depot on Showground Road is in a good strategic location in south Bridgwater, with excellent access to the M5 and the on-going construction at Hinkley Point.” The company now has over 140 locations throughout the UK.


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