MSIF backing boosts rescued call centre

12th September 2006

Wavertree based Senator Communications, the call centre facing closure just two months ago, has received a £470k funding boost.

The investment includes cash from Merseyside Special Investment Fund (MSIF), Directors’ funds and Cattles Invoice Finance.

MD Brian King said: “The funding from MSIF was critical and, without it, the deal couldn’t have gone ahead. Our staff faced a period of uncertainty and their loyalty to the company has made the difference to our survival. Thanks to their support and that of our backers and advisers we are now in a strong position to move forward and expand.”

Senator has a trading history on Merseyside going back 20 years. The company specialises in outbound and inbound call handling and its blue chip client base is predominantly in the home shopping and telephony sectors.

Alan Birkett, Investment Manager of MSIF’s Small Firms Fund said: “We were delighted to help rescue this business which, although in administration, had an impressive customer base, a loyal and dedicated workforce and, we believe, genuinely deserved the opportunity to succeed. Our backing has helped preserve a significant number of jobs.”

Over 200 jobs at Senator were saved as a result of the backing and management expect to create 40-50 new jobs over the next three years.

Turnover is on target to hit £3m this year and grow to £4.5m over the same period.

Turnaround specialists, The Focus Practice, advised the company on its recovery plan.

Ends

For further information contact Angela White at Merseyside Special Investment Fund on 0151 236 4040

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Picture shows - L-R – Alan Birkett (MSIF) and Brian King (Senator Communications)

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