FirstGroup completes the sale of Mistral Data to Tracsis

FirstGroup plc has completed the sale of Mistral Data to Tracsis plc.

Mistral Data was a wholly owned subsidiary of First Rail and is a provider of software that brings together data from real-time industry operational systems to help train operators and Network Rail improve passenger experience and operational performance.

Over the past four years, Mistral Data has grown strongly, with revenues increasing from c.£7 million in FY 2022 to c.£13 million in FY 2026, and delivering an operating profit of c.£4 million.

The £48m consideration was paid to FirstGroup, subject to customary adjustments on completion. The sale proceeds will support the Group’s capital allocation policy, including investment in UK growth opportunities and continued returns to shareholders.

Graham Sutherland, FirstGroup Chief Executive Officer, said:

“The sale of Mistral Data, which we have successfully grown into an attractive, high-quality asset, is another example of our ability to create and realise value as the UK transport sector evolves.

“The sale proceeds will further strengthen our balance sheet, supporting continued growth in attractive UK bus and rail markets and meaningful returns to our shareholders.”

ENDS