U.K.’s Vp plc Acquires Irish Aerial Rental Company Charleville Plant Hire

Vp is acquiring a 90-percent stake in CPH. Reports said Vp is paying an initial cash consideration of €12.1 million with an additional €21.7 to be paid during a three-year period depending on the achievement of EBITDA targets.

Michael Roth

Oct. 4, 2024

2 min read

Vp plc, one of the United Kingdom’s largest equipment hire (rental) companies has acquired Ireland’s Charleville Plant Hire, according to U.K. news reports. The acquisition price is in the neighborhood of €33 million (more than $43 million.)

In 2023, CPH generated unaudited revenue of €9.5 million, EBITDA of €5.7 million, and profit before tax of €2.3 million, said one report. It has unaudited gross assets of €13.9 million.

Vp said key members of the CPH senior management team will retain a minority interest and remain with the business.

Vp’s chief executive Anna Bielby talked about CPH’s strength in Ireland’s powered access market as well as the strength of the company’s management team, which has led an aggressive growth strategy for the Irish company, as well as potential for further expansion.

For more on the story, check out: https://www.msn.com/en-ie/money/companies/cork-plant-hire-company-acquired-by-uk-firm-in-deal-potentially-worth-over-33-million/ar-AA1rGTNw

About the Author

Michael Roth

Editor

Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.