LONDON (dpa-AFX) - 3i Infrastructure Plc (3IN.L) said that it has agreed to invest about 191 million pounds to acquire a 92% stake in SRL Traffic Systems, the 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 pounds 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 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.
Copyright RTT News/dpa-AFX