Blog

business

Transportation software provider Tracsis has acquired Flash Forward Consulting to create a new consultancy with 35 employees.

Monday, March 1, 2021, 9:05 a.m.

Leeds-based Tracsis is also renaming the company to ensure that all parts of the group have a consistent brand identity.

The bosses said this will increase awareness of the breadth of the group’s products and services in the transportation industry, while enhancing collaboration and integration across the company. The new branding will be fully implemented by the summer.

register to our daily newsletter

The i newsletter Cut through the noise

The group also announces the creation of a new business unit called Tracsis Transport Consultancy, which will include the existing Rail Consulting and Passenger Analytics businesses and the newly acquired FFC. The consolidated business will expand the offering for customers across the transportation industry and promote the new Tracsis branding through advisory services for all areas of the group.

“/>Tracsis has confirmed another acquisition.

The new division will have around 35 permanent employees and will be led by Alex Warner (founder and CEO of FFC) as managing director.

Founded in 2012, FFC is a London-based transportation consultancy primarily active in the rail and bus sectors. The company has a well-established high-level network between the transport companies, local and central transport authorities and Network Rail and offers a range of strategic and practical technical advisory services.

For the fiscal year ended March 31, 2020, FFC had sales of £ 2.1 million, normalized profit before tax of £ 0.4 million and net assets of £ 1.1 million.

The total acquisition consideration for FFC is £ 1.5m plus an additional cash payment of approximately £ 1m which reflects the company’s net working capital position.

The cash compensation is financed from the available reserves of Tracsis and paid out over a period of three years.

Chris Barnes, Chief Executive Officer, said, “One of my primary goals since I was appointed CEO has been to strengthen the Tracsis brand, raise awareness in the transportation industry of our breadth of products and services, while improving collaboration and integration across the Group Today’s announcement marks an important milestone on this journey. “

Mr. Warner said: “I am very pleased that Flash Forward has joined the Tracsis Group.

“The two companies have been working together for several years and I am delighted to be able to use the experience and know-how of the Tracsis Group to offer customers in the transport industry innovative solutions in the future.”