IT and internet hosting firm Iomart Group has agreed a new £20 million revolving credit facility with its existing lender, to support its growth and acquisition strategy.
The wholesale banking and markets arm of Lloyds Bank has previously backed the company after providing it with a £10m fund for takeovers in 2010.
Iomart used that to buy businesses such as Switch Media, EQSN and Global Gold.
Angus MacSween, chief executive of Iomart, confirmed the AIM-listed (Alternative Investment Market) business was looking at further deals.
He said: "We're on the acquisition trail as we continue our strategy for growth and this increased credit facility from Lloyds Banking Group will allow us to act quickly.
"We have enjoyed a strong start to 2012 and the financial backing we receive from Lloyds Bank will help ensure we continue to perform well for the rest of the year, and beyond."
Elaine Prentice, relationship director in Glasgow and the west of Scotland for Lloyds Bank, said: "This is the second such facility Lloyds Banking Group has provided Iomart Group with in recent years and represents not only the latest development in the on-going – but also our commitment to backing – growth aspirations of Scottish businesses.
"Iomart Group is a recognised industry leader and has great potential for further growth. The company has already demonstrated its ability to make successful and strategic acquisitions."
In the 12 months to March 31 this year Glasgow-based Iomart grew its revenues 33% to a record £33.5m with the hosting division alone up 38% to £24.3m. Pre-tax profits more than doubled from £2.8m to £5.8m.
Earlier this month it announced a six-figure contract with Questionmark, which provides examinations and tests to the public and private sector. Other clients include BT and Stagecoach.
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