LDC invests £24m to support growth at SRL Traffic Systems
16 Sep 2019
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.”
The deal was led by Investment Director John Clarke, Senior Director Ged Gould and Investment Executive Kelsey Bayley at LDC in Manchester. Ged and John will join the board as a Non-Executive Directors, alongside Non-Executive Chairman Sat Dhaiwal. Sat brings more than 25 years’ experience to the SRL team, having previously led the growth of plant hire firm A-Plant to a £400million business.
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. 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. We’re looking forward to supporting the team on the next chapter in their growth journey.”
The deal marks the third investment from LDC’s Manchester team this year and follows its investment in MSQ Partners, one of the UK’s fastest growing marketing communications groups, and its £20million investment in environmental testing, inspection and consultancy business Shield Group International.
Ged Gould, Senior Director at LDC in Manchester, added: “Backing SRL is another signal of our appetite to support the growth ambitions of management teams right across the North West and with a commitment to invest £1.2billion nationally over the next three years we’re confident the North West will continue to drive forward deal activity.”
Clearwater International advised SRL’s management team and provided debt advisory services. The legal advice to SRL’s management was provided by DLA Piper.
LDC was advised on its investment by KPMG, with legal advice from Pinsent Masons.
The vendors were advised by Gunnercooke.
Debt facilities were provided by Crescent Capital Group LP, with legal advice from Addleshaw Goddard.