Pool business makes waves with buyout
A Rugby-based swimming pool and fireplace business has been bought by one of its employees. Carl Enticott secured a six-figure loan from Lloyds TSB Commercial to acquire Progressive For All Seasons.
The business – which currently employs five people – services and repairs swimming pools and sells and installs gas fires.
Progressive has been trading for almost 40 years and has been acquired by Enticott following the previous owner's retirement earlier this year.
Enticott worked for Progressive for nine years as a contracts manager and engineer before deciding to purchase the company.
He said: "It has been a very exciting year for the business. I thoroughly enjoy working in both industries, so when the opportunity came up to purchase Progressive, I jumped at the chance.
"The swimming pool side of the business has been extremely busy over the past few months, thanks in part to the surprisingly good weather we’ve had. It’s great to be able to hit the ground running so soon after embarking on this new venture and we expect to be able to further grow the company over the coming year."
The loan from Lloyds TSB Commercial was secured through the government-backed Enterprise Finance Guarantee (EFG) scheme.
