Monday, May 19, 2014

News: MSSR goes into administration


Rotherham-based MSSR, which specialises in building petrol forecourts and ancillary services nationwide, has called in the administrators.

The Canklow firm was backed by turnaround fund, Seneca Investments in 2012, in a deal that saved 23 jobs.

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.

Seneca, which was set up in 2011 to support the SME arena in a tough climate, made the investment to fuel a future pipeline for MSSR which had a turnover of £5m.

In 2012, Seneca also injected a substantial investment into Tienda Limited, a Grantham and Cambridge-based interior design and construction company, whilst also acquiring a 49 per cent share of the business. The remaining 51 per cent was acquired by the management team of MSSR.

A second capital investment in MSSR followed in 2013, with plans to bring together other businesses backed by Seneca.

Now David Robson and Michael Kienlen of the Leeds team at accountants, Armstrong Watson, have been appointed as administrators.

MSSR website
Seneca Partners website

Images: MSSR


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