A job-creating portable and temporary traffic equipment provider has been backed by a European private equity firm in a £191m deal.
Cheshire-headquartered SRL Traffic Systems has secured the investment from 3i Infrastructure in a move which provides an exit for LDC.
The company supplies some of the UK’s biggest infrastructure projects from its nationwide network of 30 depots, primarily servicing the traffic management and events industries.
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LDC backed the business in September 2019, investing £24m to support the management team’s growth strategy.
During the two-year partnership, SRL increased its fleet from 7,500 to almost 13,000 systems, added four new depots to its network, opened a new innovation and technical centre of excellence, increased its manufacturing capability and moved to a new combined manufacturing base and head office.
The company also made a series of strategic hires, welcoming a new CFO, COO, CIO and product and technical teams to drive new product development and the rollout of new technologies.
SRL’s revenues have grown by 72%, up from £18.4m in FY19 to £31.6m in the current financial year and headcount increased from 140 to 182.
Richard Tredwin, CEO of SRL Traffic Systems, said: " LDC’s support has helped us become market leaders in the traffic management space. We have invested significantly in our products, technology and people during our two-year partnership.
"We are now ready to embark on the next phase of our growth journey with 3i Infrastructure, as we consolidate our position at the forefront of innovation in intelligent transport systems and solutions."
John Clarke, investment director at LDC in the North West, added: "Richard and his team have taken SRL from strength to strength, investing in every area of the business from talent and R&D to marketing and sales.
"And their success is plain to see, with a series of even more new product launches already on the horizon. We’re excited to see the business continue on its impressive trajectory in its new partnership."
LDC was advised by Houlihan Lokey (Adam Sivner), Pinsent Masons (Amie Norris), CIL Management Consultants (Jon Whiteman) and EY LLP (Steven Kingham).
Dealspan (Ged Gould and Chris Hurley) and DLA Piper UK LLP (Jonathan Watkins) provided advice to Management.
