Acquisition of Cash & Traffic Management Ltd
Tracsis is pleased to announce that it has acquired the entire issued share capital of Cash & Traffic Management Limited ("CTM").
Based in Coventry and established in 1998, CTM is a provider of event traffic planning, admission control, and a range of other event-related services to some of the UK's largest and most prestigious event clients. The business employs 20 permanent staff, all of whom will remain with the business post transaction, and has an excellent track record of organic growth, client retention and profitability over many years.
The Directors believe that CTM is highly complementary to the Tracsis Traffic & Data Services Division with good cross-sell potential along with clear synergy benefits with Tracsis' existing SEP business that should lead to margin improvement in the fullness of time.
John McArthur, Chief Executive Officer of Tracsis plc, commented:
"We are delighted to come together with CTM which is a well-established business working in a related area to our SEP operation that has been very successful for Tracsis. CTM has an excellent client list, great customer retention and there are strong synergies with our existing Traffic & Data Services Division. We welcome the CTM team to the Tracsis Group and look forward to growing the combined business in future."
Steve Russell-Yarde, Managing Director of CTM, commented:
"I am extremely pleased that CTM has joined the Tracsis Group - The Company is now in a perfect place to build from the current position, develop its service provision, and utilise the wider group experience to provide innovative solutions to clients going forward."