Mon, 16 Sep 2019 | MBO/MBI
SRL Traffic Systems, a manufacturer and supplier of portable and temporary traffic equipment, has successfully completed a management buyout (MBO) backed by mid-market private equity firm LDC.
The PE firm provided an investment fund of £24 million to support the MBO.
Although headquartered in Cheshire, SRL operates 26 depots across the country to supply its equipment to large infrastructure projects.
The MBO was led by the current chief executive Richard Tredwin, who manages 140 members of staff and a fleet of more than 7,500 units. The business’s latest records show a turnover of £18.4 million in the most recent financial year.
Tredwin 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.
“With strong credentials in the traffic management sector and a track record for partnering with management teams to drive growth, LDC's support will enable us to invest for the benefit of our customers and unlock the potential of our business.”
Investment director at LDC, John Clarke, led the deal and is set to join the board as a non-executive director.
He commented: “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.
“With such strong foundations, Richard and his team now have a huge opportunity to capitalise on the ongoing investment in the UK's road infrastructure and further develop the business' scale, strength and success across the UK.”
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Manufacturing business operating in a clearly identified niche market. The business has been operating for almost a quarter of a century and has built up a first class reputation. Offers invited.
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