AIM-listed support services firm Enterprise has bought an education services firm part owned by troubled contractor Jarvis.
Enterprise has bought JMPC, which supplies IT equipment as part of schools PFI deals, for £4.2m. Jarvis owned 51% of the share capital of the £8.2m-turnover firm, which will continue to supply IT to Jarvis for the next three years. The rest of the firm was owned by Praxis Trustees and two institutional shareholders.
JMPC made a loss of £0.2m for the year to 31 March but Enterprise claimed it would break even for this financial year and would make a pre-tax profit of £0.5m in 2005.
Enterprise said the acquisition would add to its IT capabilities - the firm already has framework deals with Leeds City Council and St Helens Borough Council which supply IT and other services. Public services managing director Dr Kevin Lavery said the buy would make it extremely well placed to bid for the upcoming £5bn Schools for the Future Programme.
Jarvis is due to post delayed results by the end of the month.