Overview

SRL, which is headquartered in Cheshire, is the market leading temporary traffic equipment (“TTE”) rental company in the UK. SRL’s product range includes temporary traffic lights, adaptive detection systems, pedestrian and cyclist systems, variable messaging systems, barriers and CCTV. SRL offers its customers a full-service rental solution, which includes the planning and design of traffic management systems, installation, maintenance and integration with existing systems, as well as direct sales of equipment assembled by SRL.

SRL’s market-leading reputation is supported by its network of 28 depots nationwide, providing a 24/7 365 day a year service on which customers rely for quick deployment and reactive maintenance work.

Investment rationale

3i Infrastructure acquired SRL in December 2021.

• TTE is mission-critical to the safe use of roads
• SRL fits with the Company’s strategy of investing in companies with leading market positions and barriers to entry, yet with operational levers to achieve attractive returns for shareholders through active asset management
• SRL has sound market fundamentals through the increasing emphasis placed on health and safety, and a growing propensity to rent rather than own TTE
• Outsourcing ownership of TTE makes economic sense for traffic management companies, as it allows them to more efficiently manage maintenance and utilisation
• SRL has a market leading reputation and is trusted by its customers