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Vp buys Hire Station for £1.1m

Equipment rental specialist Vp subsidiary Hire Station has bought Brighton-based tool hire and sales firm Power Tool Supplies for £1.1 million in cash.

Revenues at PTS reached £2.3 million in the year to 31 March 2008 with pre-tax profits of £400,000. PTS had £200,000 of free cash.

Vp chairman Jeremy Pilkington said: “PTS has been serving the Brighton area since 1983 and provides Hire Station with a high quality addition to its branch network.”