Temple Bright and Vickery Holman taken on to advise expanding traffic equipment firm
Fast-growing portable traffic equipment firm SRL Traffic Systems has appointed two Bristol-based professional advisory firms as its national expansion drive continues.
The appointment of multi-disciplinary surveying firm Vickery Holman and law firm Temple Bright follows SRL’s management buyout last year, which was backed by £24m from private equity firm LDC.
Vickery Holman and Temple Bright will help SRL asset manage its expanding number of depots across the UK and Ireland.
Cheshire-headquartered SRL manufactures and supplies portable and temporary traffic equipment used on large infrastructure projects across the UK.
It has the industry’s biggest range of temporary pedestrian and traffic light systems and is the UK market leader in sale and hire to the traffic management sector.
Last September’s buyout was led by SRL’s existing CEO Richard Tredwin and his management team.
Under Mr Tredwin’s leadership SRL had already grown rapidly to employ more than 140 people, operate a fleet of 7,500-plus units and record a turnover of £18.4m in the 2018/2019 financial year.
SRL is now expanding its hire fleet, developing its manufacturing capability to increase production and investing in new product development to further broaden its service offering.
The management team is also exploring targeted acquisitions to support further diversification of SRL’s capabilities.
Mr Tredwin said: “SRL has expanded rapidly and we now employ over 140 people in nearly 30 depots and across four divisions.
“We will continue to grow as we accelerate our product and service offering across the UK and Republic of Ireland.
“As part of a structured growth plan we have appointed Vickery Holman to asset manage our commercial properties with Temple Bright acting for us on all legal matters.”
Vickery Holman is the South West’s largest multi-disciplinary surveying firm, with offices in Truro, Plymouth, Exeter and Bristol.
Bristol office director and head of general practice Robert Beale said: “The Bristol team are looking forward to supporting SRL by handling their commercial property issues enabling SRL to focus their efforts on their own strategic growth goals.”
Temple Bright real estate partner Aaron Bennett added: “It is a pleasure and a privilege to be working with SRL Traffic Systems Limited, an exciting business which has undergone impressive growth over recent years.
“With strong figures and forward-thinking management, this success looks set to continue and we are delighted to be in a position to contribute to it.”
Vickery Holman was formed in 1990 by Nick Holman, John Vickery and Greg Oldrieve and now employs more than 60 people across its four South West offices in Truro, Plymouth, Exeter and Bristol, which opened last year.
Temple Bright is an innovative law firm launched by three partners in Bristol in 2010. Initially focusing on advising entrepreneurs and SMEs in the South West, the firm now has 70 partners across offices in London and Bristol, handling a full range of commercial work with clients including listed companies and public sector bodies alongside a continuing large SME base.
This article appeared in the Bristol Business Newsletter on 28 February 2020.