Sale of Events business
Summary by AI BETAClose X
3 August 2026
Tracsis plc
("Tracsis" or the "Group")
Sale of Events Transport Planning & Management business
Sharpens focus on scalable transport software technology
Tracsis (LSE: TRCS), a leading transport technology provider, announces that it has sold its Events Transport Planning & Management business (the "Events business") to UK private capital investment firm Connection Capital LLP ("Connection Capital" and the "Sale").
Highlights
|
· |
Sale of a largely services-led business that is not aligned with the Group's focus on scalable application software products for the transportation sector
|
|
· |
Enterprise value of £7.25m, paid in cash on completion
|
|
· |
Net cash proceeds will be used to reduce the Group's net debt following the anticipated completion of the acquisition of Mistral Data Limited ("Mistral Data")
|
|
· |
Improves financial profile. Immediately margin-enhancing and increases the Group's proportion of Annual Recurring Revenue ("ARR")
|
Strategic rationale
Tracsis is executing a growth transformation strategy focused on building a higher-margin, scalable transport software product business. The Sale - removing a largely services-led business from the portfolio - is a material step towards that.
The Events business provides event traffic management for major outdoor events and fixed venues in the UK. It is a high-quality operation with a well-established market position, and operates largely independently with a distinct customer base and limited overlap with the Group's remaining operations.
It has been acquired by Connection Capital, a London-based private capital investment firm with experience backing established UK SMEs.
Principal terms of the Sale
Under the terms of the Sale, Connection Capital has acquired 100% of the issued share capital of Tracsis Events Limited for an enterprise value of £7.25m on a cash-free, debt-free basis.
The consideration has been satisfied in cash, subject to working capital adjustments.
Financial information
For the year ended 31 July 2025, the Events business generated revenue of c.£20.4m and adjusted EBITDA of c.£1.9m. It is currently reported within the Group's Data, Analytics, Consultancy and Events division.
Use of proceeds and outlook
The net cash proceeds will be used to reduce the Group's net debt following the anticipated completion of the acquisition of Mistral Data, announced on 29 July 2026, accelerating the deleveraging path set out in that announcement. The Board's capital allocation priorities are unchanged.
The Group expects to report trading for the 12 months to 31 July 2026 ("FY26") in line with market expectations, including the full year contribution of the Events business.
Further information will be provided in the Group's FY26 trading update on 27 August 2026.
David Frost, CEO of Tracsis, said:
"As part of our growth transformation strategy, we have been reviewing the alignment of our portfolio, and this divestment is an important outcome of that process. The Events business has built a strong position in its market. However, we believe it is better suited to an owner whose strategic priorities are more closely aligned with its next phase of growth. Following a rigorous process, we are confident this transaction delivers fair value for shareholders while providing a positive outcome for customers and colleagues.
Together with the recent acquisition of Mistral Data, this sale represents another significant step in reshaping the Group towards a higher-margin, more scalable software business with a growing proportion of recurring revenue. The proceeds will strengthen our balance sheet, support future investment in our strategic growth priorities, and accelerate the reduction of net debt."
The information contained within this announcement is deemed by the Group to constitute inside information under the Market Abuse Regulation (EU) No.596/2014.
|
Enquiries: |
|
|
Tracsis plc David Frost, CEO Andy Kelly, CFO
|
+44 (0)845 125 9162 |
|
Berenberg (Financial Adviser, Nominated Adviser & Corporate Broker) Edward Lowe / Miles Cox / Lily Stratford (M&A) Mark Whitmore / James Thompson / Ryan Mahnke
|
+44 (0)20 3207 7800 |
|
Alma Strategic Communications
|
+44 (0)20 3405 0205
|
Notes to editors:
· Tracsis plc is a technology company and a leading provider of software and hardware products, data capture and data analytics/GIS services for the rail, traffic data and wider transport industries.
· Tracsis' products and services are widely used to increase efficiency, reduce cost and risk, improve operational and asset performance, improve safety management and decision-making capabilities and improve the overall end-user experience for clients and customers.
· The Group is split into two principal operating areas built around detailed industry knowledge and expertise:
- Rail Technology & Services: A software, technology and product-led business. It develops and supplies software that solves complex resource, asset optimisation and control problems for Train Operators, and smart ticketing, delay repay and other retail software to improve the customer experience for rail users. It also develops remote condition monitoring hardware, data acquisition software, and safety and risk management software for rail infrastructure providers.
- Data, Analytics & Consultancy: A largely services-led business that focuses on data capture, data analytics, GIS, earth observation, data insights and consultancy within a range of transport and pedestrian-rich environments. The business provides technology and bespoke products and data that underpin large-scale intelligent transport systems, smart city planning and positive environmental decision-making.
· Tracsis has a blue-chip client base which includes all major UK transport owning groups, Network Rail, Passenger and Freight Train Operating Companies, the Department for Transport, TfL, multiple local authorities, and a wide variety of large engineering and infrastructure companies. In North America our clients include Class 1 rail freight companies, transit operators, shortline railroads and several large rail-served ports and industrials.
· The business drives growth both organically and through acquisition and has made eighteen acquisitions since 2008.
For more information on Tracsis please visit http://www.tracsis.com
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 1 hour ago Frasers Group
- 1 hour ago Cavendish Financial
- 1 hour ago Diaceutics
- 1 hour ago AB Dynamics
- 15 hours ago Johnson Matthey