Smart money funds expansion and founder's exit

13/05/2019
Chris Ames

Total Resources UK has secured an £8m investment to help expand its depot network and buy out one of its founders.

The investment in the traffic management business includes growth, debt and venture funding and is the largest single investment to date by Mercia Fund Managers.

Total Resources, which employs over 110 staff and serves customers in the utilities and highways sectors said the cash will create up to 100 new jobs.

Established in 2015, the firm is based in Boldon in South Tyneside, with depots in Gateshead, Haydock, Leeds, Kidderminster, Mansfield and Essex, and provides services ranging from the design and installation of temporary traffic management schemes to portable traffic light hire.

Total Resources CEO Les Thompson (pictured, second from right) said: ‘We have exciting growth plans for the business and are looking forward to working with Mercia to put them into place. The investment will enable Total Resources to become a major force in the highways sector with depots nationwide.’

As well as helping expand this network, the cash will provide an exit for one of the founders, John Smart, giving control of the business to the existing management team led by Mr Thompson.

The deal also includes investment from the North East Venture Fund, supported by the European Regional Development Fund and managed by Mercia, to support the growth of the business.

Wayne Thomas of Mercia (pictured, right), who led the transaction, said: ‘Although Total Resources is a relatively new business, the management team have a long history within the sector and we have been impressed by their knowledge and progress so far.

‘The business has grown on the back of a strong commitment to customer service and delivery which will help to propel its growth over the coming years.’

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