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Elixirr International PLC on Monday boosted its US footprint, with a further acquisition, after an ‘exceptional and transformative’ first half of 2025. Shares in the London-based management consulting firm rose 1.4% to 844.00 pence each in London on Monday morning. Elixirr said pretax profit rose 28% to £15.4 million in the six months to June 30 from £12.0 million the year before. Revenue grew 35% to £71.4 million from £53.0 million, with record sales achieved in five of the six months in the period. This was supported by an increase in the number of £1 million plus clients to 31 from 22 a year ago. Adjusted earnings before interest, tax, depreciation and amortisation improved 42% to £21.5 million from £15.1 million, with an adjusted Ebitda margin of 30.0%, up from 28.5% a year ago. Diluted earnings per share increased 25% to 21.3 pence from 17.1p the year prior, or by 35% to 29.0p from 21.5p on an adjusted basis. Chief Executive Officer Stephen Newton said the first half has been an ‘exceptional and transformative period for Elixirr, marked by continued record-breaking profitable growth.’ In addition, Elixirr announced the acquisition of US-based consultancy TRC Advisory LLC for a maximum $125 million, including performance-based top-up and earn-out payments. The cash and shares deal is expected to be immediately earnings enhancing, Elixirr said. Elixirr will pay an initial $57 million on completion. Of this, $16 million will be met through the issue of shares to TRC at 820 pence each with the $41 million balance in cash. Deferred consideration comprises a post-completion contingent top-up payment, capped at $32 million, based on the achievement of agreed 2025 adjusted Ebitda performance targets for TRC, payable in up to $24 million cash and up to $8 million in shares. A further deferred performance-based payment of up to $36 million, may be payable over three years at Elixirr’s discretion, in cash and/or shares. The acquisition is the group’s seventh since its AIM initial public offer in 2020, the fifth in the US and its largest acquisition to date, adding ‘significant scale’ as well as ‘accelerating’ growth in the US. TRC reported revenue of $28.8 million and adjusted Ebitda of $13.5 million in 2024. In 2025, TRC revenue is estimated between $35 million to $37 million, with adjusted Ebitda of $16 million to $17 million. Elixirr explained goodwill arising on the acquisition will be tax-deductible, with an estimated tax benefit of $12.8 million over 15 years based on the initial consideration and up to $29.3 million if all the deferred consideration is paid. Elixxir said it remains confident in delivering organic full-year trading results in line with market expectations and enhanced by the acquisition of TRC. ‘TRC is exactly the kind of firm we look to bring into the group: bold, entrepreneurial and obsessed with delivering results that create real impact,’ CEO Newton added. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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