Mr Searle, of Craven Arms, worked at Onny Primary School in Onibury as a classroom assistant.
Mr Searle was in a collision on the B4368 Corvedale Road yesterday morning.
Officers are calling for anyone who saw it or who has information to come forward.
A number of motorists who were in the vicinity at the time have been interviewed by police in a bid to piece together what happened in the moments before the accident.
Mr Searle was cycling east along the road towards Diddlebury and neighbours have said he regularly cycled along the road. He was pronounced dead at the scene.
Another man in his 50s is believed to have been injured while trying to tend to the cyclist in the road. He was airlifted to the Queen Elizabeth Hospital in Birmingham with a suspected broken leg.
Richard Ewels, spokesman for West Mercia Police, said: "We are trying to establish the full circumstances behind this collision. Sadly, one person has died and another has been seriously injured.
"We are very anxious to hear from any witnesses or from anyone who thinks they might have information which could help the police investigation. Contact Ludlow or Shrewsbury police stations by calling 101.
"We particularly want to hear from any motorists using the Corvedale Road just outside Craven Arms between 8am and 8.30am yesterday."
Suzie Fothergill, spokeswoman for West Midlands Ambulance Service, said a Midlands Air Ambulance crew from Cosford, a land ambulance, a rapid response vehicle and a paramedic support officer had attended.
The Shropshire coroner John Ellery has been informed and a post-mortem is due to be held shortly.
By Peter Kitchen