Acquisition of SEP Ltd and SEP Events Ltd
Tracsis plc, a leading provider of software and technology led products and services for the transportation industry, is pleased to announce that on 25th September it acquired the entire issued share capital of SEP Limited and SEP Events Limited ("SEP").
Based in North Yorkshire, SEP are leading providers of traffic planning and management services for the events industry. Since its formation in 1989, SEP's client list has grown to include 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 believe that SEP is highly complementary to Tracsis' existing Traffic & Data Services division and will offer strong cross sell and upsell opportunities in the fullness of time. 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.
John McArthur, Chief Executive Officer, commented:
"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."
Mike Rodgers, Managing Director of SEP Limited, commented:
"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."