Thursday, August 15, 2013

News: MSSR pumped with further investment

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Rotherham-based MSSR, which specialises in building petrol forecourts and ancillary services nationwide, has secured a second cash injection from Yorkshire turnaround fund, Seneca Investments.

The growing Canklow-based firm was first backed by the investors in 2012, in a deal that saved 23 jobs. MSSR is one of a three-strong group of complementary businesses in which Seneca has invested £1.3m over the past 15 months.

The other two are retail display systems specialist T & E Display in Birmingham and Tienda, an interior design and construction company based in Grantham and Cambridge. MSSR acquired Tienda Limited with backing from Seneca Investments last year.

Seneca, which was set up in 2011 to support the SME arena in a tough climate, has backed 13 companies in and around Yorkshire.

MSSR was founded in 1989 to provide specialist petrol forecourt construction services to the oil industry. They have been involved in over 1,000 sites nationwide and works with companies such as Asda, Total Oil, BP and Texaco. With a turnover of £5m, it has recently taken on two new members of staff.

Michael Cantwell, a corporate partner at law firm hlw Keeble Hawson which acted for Seneca, said: "The MSSR deal will boost growth, continue to build a new client base for all three complementary businesses and be able to offer clients a full turnkey package – all of whom will benefit from a high level of strategic expertise and capital investment from Seneca."

Patrick Bywater, director at Seneca, added: "This second funding injection for MSSR is aligned to our strategy to bring the three businesses together into one dynamic group in the near future."

MSSR website

Images: MSSR

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