Sullivan Street Partners, a UK-based mid-market private equity investor, is to acquire diagnostic services business Tracerco, alongside longstanding Sullivan Street investor, Scottish family office Souter Investments, from London Stock Exchange-listed firm Johnson Matthey for c£55 million.
The deal is expected to complete in the second half of 2023.
Tracerco is a global business providing specialised detection, diagnostic, and measurement solutions, operating out of sites in 16 countries to service over 50 jurisdictions. Tracerco uses innovative proprietary technologies developed in the UK and Intellectual Property in both nucleonics and chemical tracing.
Sullivan Street brings extensive carve-out and operational expertise to support Tracerco’s separation from Johnson Matthey plc and to establish it as a strong, standalone company.
