Sullivan Street Partners to pick up Tracerco

• Sullivan Street will partner with its long-term investor Souter Investments to acquire Tracerco
• Souter Investments is a Scottish family investment office specialising in private equity
• Sullivan Street, based in London, is a value-led buyout firm

Sullivan Street Partners, along with Souter Investments, will acquire Tracerco, a diagnostic services company, from Johnson Matthey for around £55 million (€62.38 million; $68.85 million).

Tracerco is headquartered in Billingham, England.

Sullivan Street will support Tracerco’s separation from Johnson Matthey and to establish it as a standalone company, according to a release.

“This transaction reflects Sullivan Street’s focus on primary deals requiring operational insight and carve out experience,” said Zeina Bain, managing partner at Sullivan Street.

The transaction is expected to be completed in the second half of 2023.

Souter Investments is a Scottish family investment office specialising in private equity. The firm is a Sullivan Street investor and is based in Edinburgh, Scotland.

Johnson Matthey is a global company in sustainable technologies. The company is based in London.

Sullivan Street, based in London, is a value-led buyout firm that invests in lower mid-market across various sectors. The firm takes ownership or controlling stakes in companies through investing £20m to £50m of equity.