SRL, based in the English town of Middlewich, was founded in 1997 and has 170 employees and 150 specialist vehicles. It went through a management buyout in 2019 and has since grown its product portfolio. Solutions include variable message signs, work-zone protection barriers, CCTV and portable urban traffic management and control technology. It also has traffic signals featuring what the company says is the market’s only multiphase adaptive detection system.
3i is a London Stock Exchange listed investment company with longstanding experience of investing in asset companies and has acquired a 92% controlling stake in SRL. The SRL management team has re-invested to secure the remaining 8% share.
3i said the buyout “will facilitate SRL’s next phase of growth, which will include development of the firm’s research and development and manufacturing capabilities, creation of innovative new products and expansion into new markets”.
SRL’s new chief executive officer is Adrian Murphy who joined the company as chief operating officer in April. He replaces Richard Tredwin, who will take up the role of non-executive chairman, replacing Sat Dhaiwal.
Recently, SRL and Swarco Traffic, a traffic technology specialist, formalised their partnership, with SRL becoming Swarco Traffic’s official Strategic Hire Partner. The partnership is an extension of the ongoing relationship between the two businesses, which has seen over 400 Swarco signs form part of the SRL fleet for use on roads throughout the UK and Ireland.
SRL also recently announced an exclusive partnership with barrier and gate manufacturer Solar Gates UK to hire out the manufacturer’s Instaboom work zone barriers. SRL says the solar/hybrid instant protection barriers are a safer and more cost-efficient alternative to the traditional plastic barriers staffed by dedicated gate-people. Instaboom can be seen in many work zones throughout the UK, including Smart motorways and the high-speed train HS2 project.