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Seneca’s Latest Deal Builds On Business Synergy

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A shrewd strategic investment into two well matched businesses by Yorkshire turnaround specialist Seneca Investments is building new opportunities for both companies.

In the latest deal, Seneca has injected a substantial investment into Grantham and Cambridge-based interior design and construction company 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 Rotherham’s MSSR Forecourt Developments Ltd - part of Seneca’s investment portfolio - which earmarked Tienda as an ideal bolt-on investment opportunity.

Neil Large, corporate partner with hlw Keeble Hawson - one of the region's biggest practices with offices in Sheffield, Leeds and Doncaster - represented Seneca in the transaction.

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.”

Nic Grimoldby, the founder shareholder of Tienda, will continue in his position of director, retaining responsibility for the operation and management of the company under its new ownership. He will work alongside Seneca and MSSR management team members Michael Sanders and Atul Lakhani, to grow both businesses.

Michael Sanders, MD of MSSR and Tienda added: “We’re looking forward to working with Nic and 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.”

Neil Large of hlw Keeble Hawson concluded: “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.”

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

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