United Kingdom 3i Tender

3i Infrastructure plc 3i Infrastructure or the Company has agreed to invest c.191 million to acquire a 92 stake in SRL Traffic Systems SRL the market leading traffic management equipment rental company in the UK. Management has re-invested to acquire the remaining 8 stake. 3i Infrastructure has provided a further 83 million of debt financing to SRL with the intention of replacing this with third party debt in due course.SRL which is headquartered in Cheshire owns a fleet of almost 13000 items of traffic management equipment which it rents to local authorities utilities contractors and traffic management companies from a nationwide network of depots. SRLs 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 complex traffic management systems installation maintenance and integration with existing systems as well as direct sales of equipment assembled by SRL.SRL is experiencing strong growth in customer demand driven by an increasing number of roadworks projects resulting from greater spending on highway maintenance utilities works and major infrastructure projects. Hire of traffic management equipment is increasingly favoured over other methods of traffic control because it contributes to improved safety whilst roadworks take place protecting both road workers and the general public whilst effectively managing traffic congestion.SRLs market-leading reputation is supported by its network of 30 depots nationwide providing a 247 365 day a year service on which customers rely for quick deployment and reactive maintenance work.Richard Laing Chair of 3i Infrastructure commented SRL is an attractive core-plus infrastructure business and is well-suited to 3i Infrastructures strategy of investing in asset-intensive companies. The business has a strong position through its extensive depot network and market-leading reputation.Phil White Managing Partner and Head of Infrastructure 3i Investments plc Investment Manager of the Company added SRL has defensive characteristics in a sector with attractive underlying market trends. We are excited to be backing a best-in-class management team and we see opportunities to use our longstanding experience of investing in UK infrastructure to support SRLs continued growth.