Wednesday, September 12, 2012

News: MSSR expands with Seneca Investments


Rotherham-based MSSR, has acquired Tienda Limited with backing from Yorkshire turnaround specialist, Seneca Investments.

Canklow-based MSSR specialises in building petrol forecourts and ancillary services nationwide. They earmarked Tienda, a Grantham and Cambridge-based interior design and construction company, as an ideal bolt-on investment opportunity.

Seneca, which was set up in 2011 to support the SME arena in a tough climate, added MSSR to their investment portfolio earlier this year. In the latest deal, Seneca has injected a substantial investment into Tienda Limited whilst also acquiring a 49 per cent share of the business. The remaining 51 per cent has been acquired by the management team of MSSR Forecourt Developments Ltd.

Melanie Hird, a director of Seneca Investments and chairman of Tienda, is providing strategic input into both companies. She said: "The deal creates a strategic platform for their further growth and expansion – delivering a full-service offering for design, construction and fit out complimented with a complete design and build offering.

"The strength of MSSR and Tienda's combined business strategy and operational synergy will undoubtedly open doors to new opportunities and markets for both companies."

Michael Sanders, MD of MSSR and Tienda, said: "We're looking forward to working with the Tienda team on consolidating our resources into a full-service offering and rolling it out to our combined client base of blue-chip retailers and specifiers, as well as targeting new markets together."

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. It has a turnover of £5m.

hlw Keeble Hawson represented Seneca in the transaction. Hill Dickinson in Sheffield acted for MSSR, Nottingham-based Eversheds represented Lloyds TSB Bank and Sloan Plumb & Wood Solicitors in Peterborough acted for Tienda.

Neil Large of hlw Keeble Hawson, said: "Seneca Investments has an uncanny knack of identifying and creating good investment opportunities and structuring them in a way that makes them attractive propositions to all parties.

"This is another strategically sound deal which brings together two very well-matched companies, with the new entity a strong proposition in the design and construction sector."

MSSR website

Images: Seneca Investments


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