Enterprise buys Jarvis subsidiary for £4.2m

Enterprise, the support services group, has eased the pressures on Jarvis’s financial woes slightly by buying JMPC for £4.2m.

An educational services company, JMPC is a joint venture between Jarvis, which holds a 51% stake, and three other shareholders. Under the terms of the acquisition, the senior management will remain with JMPC.

For the year to 31 March 2004, JMPC had a turnover of £8.2m and made a pre-tax loss of £200,000. Forecasts point to breakeven in the current year and a pre-tax profit, as part of the Enterprise group, of £500,000 in the year to December 2005.

JMPC is heavily involved in PFI schools projects. It has supplied ICT to 13 schemes covering 51 schools in England and Ireland.

Mehool Sanghrajka, managing director of JMPC, said: “We are delighted at becoming part of Enterprise.”

Enterprise holds framework contracts for maintaining ICT and other services to Leeds City Council and St Helens Borough Council. It also has a long-term joint venture with VT Group supplying careers services to local authorities.