DWPF provided model audit advice to 3i Infrastructure on the acquisition of 92% stake in SRL Traffic Systems, a leading portable traffic light manufacturer.

It has agreed to buy a 92 per cent stake in the company for £191m, and 3i has provided a further £83m of debt financing to SRL, which it will later replace with third party debt.

Cheshire-based company SRL is home to 13,000 items of traffic management equipment, which it rents to local authorities, utilities, contractors and traffic management companies from a nationwide network of depots.

The company has a network of 30 depots nationwide, providing daily services for customers dependent on quick deployment and reactive maintenance work.

SRL’s product range includes temporary traffic lights, adaptive detection systems, pedestrian and cyclist systems, variable messaging systems, barriers and CCTV.