• Srltslogo 1200X800
    SRL Traffic Systems
    UK

    Transport & logistics

    Overview

    SRL, is the market leading temporary traffic management equipment (“TTE”) rental company in the UK. 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 manufactured by SRL.

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

    Recent developments

    SRL specialises in providing equipment to support complex roadworks that require a service component in addition to pure asset rental. The company operates the largest depot network of intelligent traffic management systems in the country, providing installation, monitoring, servicing, maintenance and battery exchange services.

    SRL performed significantly behind expectations during the year, caused by a slowdown in activity from local authorities and the telecoms sector, combined with competitive pressure impacting rental rates. Short-term market conditions remain challenging, and we have taken action to cut costs to respond to this. The reduction in value of this investment reflects the under performance in the period and a more prudent view on its outlook.

    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

    Sustainability

    SRL's temporary traffic solutions enable greater segregation and control of traffic flows, in turn improving safety and reducing congestion around roadworks. This improves satisfaction for road users and local communities and reduces pollution. In addition, focus is being placed on health and safety through the use of more sophisticated methods of traffic management to protect highway workers and segregate traffic, cyclists and pedestrians

    Key facts
    24/7 service with access to any location within two hours
    30 strategically located depots in the UK
    c.13,000 pieces of equipment under full service contracts
    Deal team
    James Dawes
    Chief Financial Officer
    UK / Infrastructure
    Yaad Virdee
    Director
    UK / Infrastructure
    Claudio Ossanna
    Senior Associate
    UK / Infrastructure
    Laura Kaps
    Associate Director
    UK / Infrastructure
    Eric Bucher
    Associate
    UK / Infrastructure