Tuesday, March 6, 2012

News: MSSR receives cash injection from Seneca


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

The first tranche of capital from Seneca, which was set up in 2011 to support the SME arena in a tough climate, will save 23 jobs and fuel a future pipeline for MSSR which has a turnover of £5m and works with numerous blue-chip clients.

The Canklow company 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.

Neil Large, corporate partner at hlw Keeble Hawson who acted for Seneca in the deal said: "Seneca is providing important support for an increasing number of businesses and it's tremendous that this funding together with their expertise will safeguard the way forward for MSSR."

Melanie Hird, director at Seneca, added: "MSSR's strong track record spans almost three decades and this boost will enable it to keep firing on all cylinders. The business has great growth potential with a strong management team.

"hlw Keeble Hawson worked fast and effectively on this deal which is another example of Seneca reacting quickly to an opportunity in a sector which, like many others, is encountering challenges."

Michael Sanders, managing director at MSSR, said: "Thanks to this welcome injection we can set growth targets and retain our position as being among the largest UK petrol forecourt companies with over 1,000 developments nationwide. We're very much looking forward to working with Melanie and the Seneca team."

Neil Thompson of Hill Dickinson solicitors based in Sheffield represented the management team at MSSR.

MSSR website

Images: mssr.co.uk


Supported by:
More news...

  © Blogger template Newspaper III by Ourblogtemplates.com 2008

Back to TOP