West Midlands finance group Mercia Fund Managers has invested almost £8 million into a traffic management business in its largest single transaction to date.

The injection of new capital into Total Resources UK includes growth, debt and venture funding and will allow the business to expand its existing depot network across the UK, creating up to 100 jobs.

Total Resources, which operates a depot in Kidderminster and is headquartered in the North East, provides services such as designing and installing temporary traffic management schemes to portable traffic light hire.

It was founded in 2015 and employs more than 110 staff, serving customers in the utilities and highways sectors including SSE and Kier.

 

This new investment from Henley-based Mercia provides an exit for one of the company's founders John Smart, giving control of the business to the existing management team led by chief executive Les Thompson.

Mr Thompson 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."

Wayne Thomas, who led on the deal for Mercia, added: "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."

Brabners Corporate Finance, Hill Dickinson and Sentio Partners advised on the deal.