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The SVR, operated by the Guarantee Company, began services in May 1970. However the next stages of development, including purchase of the southern end of the line to [[Foley Park]] and ultimately [[Kidderminster]], required substantial investment. A Public Company with a Share Capital was considered a more suitable vehicle for this, leading to the formation of [[Severn Valley Railway (Holdings) PLC | Severn Valley Railway (Holdings) Ltd.]] ("SVR(H)") in March 1972.
When SVR(H) was formed, it was envisaged that the Guarantee Company would no longer be required, leading to the creation of another organisation, the [[Severn Valley Railway Association]] (SVRA). However it transpired that the existing LRO could not be transferred to SVR(H) at that time, so the Guarantee Company remained in existence. The activities of the SVRA were eventually merged into the Guarantee Company in October 19152015.
In due course SVR(H) assumed responsibility for the ownership of the infrastructure and operation of the SVR.
