Acquisition: Tracsis agrees deal for events traffic business

Leeds-based Tracsis acquired SEP, which is based in North Yorkshire, in a deal worth £2.6m. SEP, which was formed in 1989, is a provider of traffic planning and management services for the events industry.

John McArthur, chief executive officer at Tracsis, said: “We are delighted to have completed this acquisition, our seventh since IPO, which continues our trend of acquiring well run, profitable, niche businesses within the traffic and transport sector.

“SEP is a well-established company which benefits from a prestigious client list, strong recurring revenue, and a very capable team of professionals.

“There are some great synergies between SEP and Tracsis and this partnership will strengthen our overall market position and bring enhanced benefits to the combined customer base. We welcome the SEP team into the enlarged group and look forward to working with them.”

SEP’s client list includes many of the UK’s largest and most prestigious outdoor entertainment and sporting fixtures, along with major agricultural events, air shows, and music festivals.

The directors at Tracsis believe that SEP will complement the businesses existing Traffic & Data Services division and will offer strong cross sell and upsell opportunities over time.

Mike Rodgers, managing director of SEP, said: “I am extremely pleased that SEP has joined the Tracsis Group - the company is now perfectly placed to enhance its service provision as part of a larger team, further strengthening our existing relationship with the Tracsis Traffic and Data division.”

Both companies have worked together in the past and collaborated on major events such as Royal Ascot, T in the Park, The Grand National, and the Wings and Wheels air show.

In the year ended 30 September 2014, SEP generated revenue of £4m, an adjusted EBITDA of £0.4m and Profit before Tax of £0.3m.