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Transport & logistics
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 30 depots nationwide, providing a 24/7 365 day a year service on which customers rely for quick deployment and reactive maintenance work.
SRL has performed in line with our investment case to date, both financially and operationally. The fundamentals of addressing the road network maintenance backlog and strategic initiatives such as the UK fibre roll-out plan continue to provide a strong underpinning rationale for further expansion of the equipment as a service model.
On acquisition, the Company provided an £83 million bridge loan. This was repaid in February 2022, when we secured a third-party acquisition debt facility.
3i Infrastructure acquired SRL in December 2021.
Sustainability and safety form a cornerstone of our value creation plan. Temporary Traffic Equipment (TTE) allows for greater segregation and control of traffic flows, which in turn reduces congestion around roadworks. Greater rigour 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.