Enterprise buys HR specialist

Enterprise has acquired HR specialist Trinity Group Holdings for £21m.

Trinity is one of the UK's leading nationwide providers of HR services to local authorities and housing associations. In the year to 31 August, Trinity's turnover was £17m, generating a pre-tax profit of £1.2m. Net assets were £500,000.

Initially Enterprise will pay £7.5m in cash. An dditional payment of up to £13.5m will be payable subject to Trinity's performance to 31 December 2008.