VP subsidiary Hire Station buys Power Tool Supplies for £1.1m

VP subsidiary Hire Station has bought Sussex-based Power Tool Supplies (PTS) for £1.1m in cash. 

PTS was set up in 1983 and in the year to 31 March 2008 it generated £2.3m in revenue, made a pre-tax profit of £400,000 and had £200,000 of free cash when the deal was done. 

Its Brighton depot will be added to Hire Station’s network of 87 outlets.