Twenty-three jobs have been saved at MSSR, the Rotherham firm which specialises in building petrol forecourts and ancillary services nationwide.
Turnaround fund Seneca Investments has invested in the Bawtry Road firm, founded by managing director Michael Sanders in 1989.
Mr Sanders 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.”
Melanie Hird, a director of Seneca, set up in 2011 to support small and medium sized firms meet the challenges of a tough economic climate, said: “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.”
Ms Hird praised Sheffield law firm Hlw Keeble Hawson who advised Seneca on this deal and also on its recent £200,000 investment in Sheffield specialist printer Whitesprint.
“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,” she said.
Neil Large, corporate partner at Hlw Keeble Hawson acted on behalf of Seneca, while Neil Thompson, from the Sheffield office of Hill Dickinson represented the management team at MSSR.