City Briefs: Vp and OptiBiotix
Tool rental group, Vp has acquired M&S Hire Limited for £2.8m.
The Harrogate-based business which in June said “Covid brought out the best” in it, said that M&S which was founded in 1984 and operates from Sittingbourne in Key with a focus on the Greater London market, will be integrated with MEP Hire and is part of Vp’s UK division.
Commenting on the acquisition, Jeremy Pilkington, chairman of Vp plc, said: “The acquisition of M&S is an excellent addition to our very successful MEP Hire business and it will complement its existing operations with increased exposure to the commercial fit out sector. I am delighted to welcome the M&S team to Vp.”
:::
Life sciences business, OptiBiotix Health has formed a new Indian subsidiary, OptBiotix India.
Commenting in the new business, the company which is based in York noted that India’s population of 1.3 billion people coupled the prevalence of obesity and with over 27% of all deaths there being related to cardiovascular disease made it a “market of great strategic importance”.
The company also noted that the formation of OptiBiotix India offered “significant opportunities for additional revenue growth” as a result of sales into the market. It added that the nutraceuticals market in India is expected to grow to $18b over the next four years as the demand for dietary supplements increases.
The launch follows the announcement in March of the appointment of Dr Taru Jain to focus on business development and growing sales in the strategically important Indian and Asian markets.
Stephen OHara, CEO of OptiBiotix Health said: “We are pleased to announce the setting up of a subsidiary in India, a country we have identified as of strategic importance for its high growth potential and access to Asian markets. This is all part of our plans to grow sales, margins, and product ranges with new and existing partners in key strategic markets. Establishing a physical presence allows us to maximise the potential opportunity in this market and and if successful make a significant contribution to future sales growth.”
