Leeds-based transport technology provider Tracsis plc said it has sold its Events Transport Planning & Management business to UK private capital investment firm Connection Capital LLP.

Tracsis  said the enterprise value of the deal is £7.25 million, paid in cash on completion.

The events business provides event traffic management for major outdoor events and fixed venues in the UK. 

“Net cash proceeds will be used to reduce the group’s net debt following the anticipated completion of the acquisition of Mistral Data Limited,” said Tracsis.

Last wek, Tracsis said it agreed to acquire Mistral Data Limited, a wholly owned subsidiary of FirstGroup plc, “for an enterprise value of £48 million on a cash-free, debt-free basis.”

For the year ended July 31, 2025, the events business generated revenue of £20.4 million.

Tracsis CEO David Frost 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.”