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Insurance group Direct Group has completed a debt refinancing deal to fund further acquisitions.

Lloyds TSB Corporate Markets Acquisition Finance provided the funding to the business, which operates out of Doncaster and Halifax, after LDC backed a £21.3m management buyout of the company in 2007.

Derek Coles, chief executive of Direct Group, which employs 230 people, said: "Our clients are looking to partner with organisations that can support an increasingly broad range of requirements."