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.

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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.

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News: MSSR pumped with further investment

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."

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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."

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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

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