CMA clears Vp’s acquisition of Brandon Hire
The Competition & Markets Authority (CMA) has cleared the completed acquisition by Vp of Brandon Hire Group Holdings Limited.
The CMA announced in December it was to investigate the £68m acquisition of national tool and equipment hire business Brandon Hire by Harrogate-based Vp.
The deal, announced on November 8, will create a leading specialist tool hire business within the UK division of Vp – which employs around 100 people in its Harrogate HQ.
Brandon Hire operates a full range of tool hire equipment with an operational model which is closely aligned to Vp’s own specialist tool hire business, Hire Station.
Brandon Hire had been owned by a private equity firm for seven years. For the year ended 31 December 2016, revenues were £79.8m, generating profits before interest, tax, exceptionals and amortisation of £6m from gross assets of £50.6m.
