3i Infrastructure plc has acquired a 92% controlling stake in manufacturer and supplier of portable and temporary intelligent transport systems SRL, in a move that aims to support the next phase of growth for the firm.
Since its 2019 management buyout, SRL has worked to expand its product portfolio to include variable message sign (VMS) fleets, work-zone protection barriers, CCTV, portable Urban Traffic Management and Control (UTMC) technology. It also provides traffic signals featuring the market’s only multiphase adaptive detection system.
The Cheshire-based company added its distribution network is the industry’s largest, comprising of 30 depots, serving the traffic management, construction, events and utilities sectors. Its management team has re-invested to secure the remaining 8% share.
3i Infrastructure’s buyout aims to facilitate SRL’s next phase of growth, which will include development of the firm’s research and development and manufacturing capabilities, further creation of new products and expansion into new markets.
SRL has appointed new chief executive officer, Adrian Murphy, who joined the company as chief operating officer in April. Murphy replaces Richard Tredwin, who will take up the role of non-executive chairman.
Murphy will be joined at the helm by chief finance officer John McLaughlin who has been transitioning into the role and takes over from Mike Marrison as he retires. Murphy and McLaughlin will work in close partnership with SRL’s leadership team that led the 2019 buyout: commercial director Alison Spooner and managing directors of the hire, manufacturing and Urban64 divisions, Malcolm Johnstone, Peter Almond and John Cleary respectively.
Murphy said: “SRL has achieved stunning growth since 2019, and the buyout will enable the company to continue along this trajectory, bringing industry-leading, innovative mobile ITS solutions for hire and sale to our expanding market, along with further developments to our renowned customer service offer.
“In the meantime, so far as our customers are concerned, on an operational level it will be 100% business-as-usual.”
