A cross-border team from independent financial advisory firm Interpath has advised specialist equipment rental business Vp plc on the acquisition of powered access company Charleville Hire and Platform Ltd in Ireland.
Vp plc is a specialist equipment rental business that provides equipment, people, services and support for specialist projects and has a focus on the infrastructure, construction, housebuilding, and energy markets in the UK and overseas.
The business has acquired County Cork-based CPH, which was established in 1989 and services the growing pharma, renewables, technology and food ingredient sectors. CPH offers a broad portfolio of specialist hire equipment across the Republic of Ireland, with over 1,000 machines including boom lifts, scissor lifts, vertical lifts, ultra boom lifts and other access equipment.
Martin Hanley and Jimmy Dundon led a management buy-out in 2018 and continue to lead the CPH business today. All members of the senior management team will remain with the business post-acquisition.
In June 2024, Vp plc set out its updated strategy with a focus on growing its specialist capabilities in the equipment rental market. The acquisition of CPH enables the Group to grow its capabilities, particularly in the powered access hire equipment and services market as well as providing an opportunity for the Group to grow its Irish footprint.
The team at Interpath provided financial and tax due diligence services, alongside tax structuring and SPA support. It was led by Transaction Services Managing Director Louise Smith, who was supported by Russ Worrall, Arpit Desai, Saiful Khan, Liberty Bignal, Katie Hinton, Andrew Fowler in the UK and Denis Herlihy, James O’Hagan, and Catherine Keogh in Ireland.
Louise Smith, Managing Director and Transaction Services specialist at Interpath, said: “The acquisition of Charleville Hire and Platform Ltd is a powerful statement as Vp plc further expands its operations in the Irish market. It was a pleasure fielding a cross-border team across Transaction Services and Tax to support the Group’s growth strategy through this strategic acquisition.”
Commenting on the acquisition, Martin Hanley, Director at CPH, said: “We’re excited about this partnership with Vp. We are proud of the progress that we have made to date, delivering good, sustainable growth. Vp’s expertise and professionalism will support our growth and help enhance our customer services as we take the business to the next level.”
Jonathan May, Chief Operating Officer at Vp plc, added: “This acquisition is exactly in line with Vp’s renewed strategic focus and builds on our highly differentiated, specialist customer offering. CPH is a market leader, operating in a growing market with a modern environmentally friendly fleet led by an experienced management team. We’re really excited by this news and look forward to working with the CPH team.”
