Private equity firm LDC has invested £24 million to back the management buyout of SRL Traffic Systems.
SRL makes portable and temporary traffic equipment and its equipment is used on many of the UK’s large infrastructure projects.
The business is headquartered in Cheshire and employs more than 140 people. In the latest financial year it had a turnover of £18.4 million. The buyout was led by SRL’s existing CEO Richard Tredwin and his management team.
The investment by LDC will be used to support a capital investment programme which will include expanding SRL’s current hire fleet, developing its manufacturing capability to increase production and investing in new product development.
Richard Tredwin, CEO of SRL Traffic Systems, said: “Our number one priority is to ensure our customers have access to the best technology in the market without compromising on quality. As demand increases, we need an investment partner that has the desire and commitment to support ambitious management teams, as well as the track record to help us deliver just that.”
John Clarke, Investment Director at LDC in Manchester, added: “With a focus on innovation and a commitment to service, SRL has established itself as the UK’s market leader in the provision of traffic management and information systems.”
John Clarke and LDC Senior Director Ged Gould will join the SRL board as a non-executive Directors, alongside non-executive Chair Sat Dhaiwal.