Mayer Brown advises new client Sullivan Street Partners alongside Souter Investments on their acquisition of the diagnostic services business of Johnson Matthey, Tracerco

London — Mayer Brown has advised private equity investor Sullivan Street Partners on their carve-out acquisition alongside Souter Investments of Tracerco, the diagnostic services business of FTSE 100 chemicals and technology group Johnson Matthey. 

Tracerco is a global business providing specialised detection, diagnostic, and measurement solutions, operating out of sites in 16 countries to service over 50 jurisdictions. 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.

Sullivan Street Partners is a new private equity client of the London Office of Mayer Brown and the deal was a cross-office collaboration including teams from the US, Brazil and Dubai Offices. The transaction continues Mayer Brown’s long track record of advising on private equity-led carve-out transactions and co-investments.

The Mayer Brown team was led by Private Equity partners Electra Callan and Tarun Patel and included senior associate Daniel Williams, associates Anna Jackson-Smith and Niki Mehta (all Corporate & Securities), Banking & Finance partner Stuart Brinkworth, associate Kirstin Swanepoel and lawyer Ann Wennerlund, Tax partner Simon Rose, partner Miriam Bruce and senior associate Sarah Reeve-Young (both Employment & Benefits), partner Iain Roberts and senior associate Alice Miller (both Real Estate), Environmental & Planning partner Tim Baines, partner Mark Prinsley, associates Ellen Hepworth and Reece Randall (all IP), Litigations & Disputes partner Jason Hungerford and International Trade counsel Paul Whitfield-Jones.