(ShareCast News) - Support services group Carillion has agreed a deal worth £187m to upgrade facilities at eight schools in the Midlands.On Monday, the FTSE 250 group said its joint venture vehicle PSBP Midlands has reached financial close over the Midlands Priority School Building Programme, a 25-year concession that uses the government's Private Finance 2 model.Under the Private Finance 2 scheme, the government invests and manages its public private partnerships, which means the contract will be categorised under the firm's Public Private Partnership portfolio.Carillion said it expects to invest £5.5m of equity in the programme, with an additional £138m to be spent on building the facilities and it anticipates the project will deliver approximately £49m in revenue over the 25 years."We are delighted to have achieved financial close on this important schools programme. Carillion is a market leader in the education sector, having delivered some 150 schools over recent years, many of which were Public Private Partnership projects," said group chief executive Richard Howson.Carillion shares were up 0.48% to 355.00p at 0816 BST.