Seneca funding fuels continued growth at MSSR

PETROL forecourt specialist MSSR has been fuelled for further growth after a second funding boost from Seneca Investments.

Rotherham-based MSSR is one of a three-strong group of complementary businesses in which Seneca has invested £1.3m over the last 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.

Since launching in 2012 to support small and medium enterprises in a challenging climate, Seneca has backed 13 companies in and around Yorkshire.

Michael Cantwell, a corporate partner at hlw Keeble Hawson which has acted for the turnaround fund in a series of deals including MSSR’s first tranche of funding from 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.

“As a turnaround fund Seneca has been instrumental in helping to safeguard hundreds of jobs in a short space of time and provide working capital for businesses that are benefiting enormously from the fund’s support.”

Seneca director Patrick Bywater 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 is a £5m turnover business which builds petrol forecourts and ancillary services nationwide for a portfolio of blue chip clients.

Michael Sanders, managing director of MSSR, T&E and Tienda, said: “As a result of this additional investment from Seneca, we can ramp up our full-service manufacturing, design and construction offering to existing and new clients across the UK.”