Enterprise borrows to fund growth

Enterprise, the rapidly growing support services group, has struck a deal with its bankers that will allow it to borrow 160m - representing an increase of 50m - to support further growth.

During the first six months of the year, Enterprise's net debt was 49m. It spent 31m on acquisitions.

Interim financial results, which cover the six months to 30 June 2005, show turnover 22% higher at 250m. Pre-tax profit was up by a tenth at 11m.

In addition to the six acquisitions completed in the first six months, there have been a further three since then. They are:Trinity Group Holdings, bought for 21m. It is a provider of human resources services to local authorities and housing associations.

CRW Maintenance, which offers reactive mechanical, electrical and building fabric services to clients in the retail, commercial and local authority sectors throughout the North East and Midlands. Enterprise paid 6m.

Durley Group, bought for 15m, is a provider of domestic and commercial insurance with a wide range of building claims products.