Mon, 03 Aug 2026 | DIVISION SALE
Leeds-headquartered transport software business Tracsis has sold its events business to private equity firm Connection Capital in a deal worth approximately 3.8x the division’s EBITDA.
Events Transport Planning & Management provides traffic management for fixed venues and major outdoor events in the UK. In the year to July 31 2025, the business reported revenue of around £20.4 million and adjusted EBITDA of approximately £1.9 million.
Discussing the sale, Tracsis said that the largely-services led business was not aligned with the wider group focus on "scalable application software products for the transportation sector".
Connection Capital has acquired 100 per cent of Tracsis Events Limited’s issued share capital for an enterprise value of £7.25 million on a cash-free, debt-free basis. The net cash proceeds of the sale will be used by Tracsis to reduce net debt, following the group’s proposed takeover of Mistral Data, which was announced last week.
David Frost, Chief Executive at 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.”
Frost added that, alongside the group’s acquisition of Mistral Data, the sale of the events business represented “another significant step in reshaping the group towards a higher-margin, more scalable software business with a growing proportion of recurring revenue.”
He continued: “The proceeds will strengthen our balance sheet, support future investment in our strategic growth priorities, and accelerate the reduction of net debt."
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