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Vp acquires NSS for £1.6m

Equipment hire specialist Vp has acquired Middlesbrough-based business Northern Site Services for £1.6 million.

NSS will be merged with ESS Safeforce, the safety equipment arm of Vp's tool hire subsidiary, Hire Station, Vp revealed this morning.

Vp is paying £1.6 million for NSS, which had £800,000 free cash at completion of the deal.

Estabilished in 1993, Teesside-based NSS rents out specialist lighting and electrical equipment, principally to the petrochemical and industrial sectors.

NSS generated revenues of £500,000 in the year to last March. Vp's most recent update reveals Hire Station posted revenues of £29.3 million for the six months to last September.

Chairman Jeremy Pilkington said: "NSS is an excellent fit for ESS Safeforce providing further expansion of its specialist safety equipment offering, in support of process industry shutdown activities.

"The acquisition of NSS, and earlier in the financial year of Able Safety Yorkshire, demonstrates our commitment to build on market leading positions within the specialist safety equipment market."