Elixirr International (ELIX)

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565.00p
   
  • Change Today:
    -17.50p
  • 52 Week High: 630.00
  • 52 Week Low: 420.00
  • Currency: UK Pounds
  • Shares Issued: 47.27m
  • Volume: 53,810
  • Market Cap: £267.09m
  • RiskGrade: 251

Elixirr acquires Retearn Group in £7m deal

By Josh White

Date: Monday 12 Apr 2021

LONDON (ShareCast) - (Sharecast News) - Challenger consultancy firm Elixirr International announced the acquisition of procurement and transformation provider the Retearn Group on Monday, for a maximum total consideration of £7m, plus an additional cash payment based on working capital at completion.
The AIM-traded company described Retearn as a UK-based procurement, transformation and insights consultancy, with 35 full-time employees and a "broad" specialist associate network.

In the year ended 30 June, Retearn recorded revenue of £5.65m and profit before tax of £0.92m.

The board said the acquisition would bring specialists in self-funded transformation, and would allow Elixirr to meet demand from clients to find savings to fund strategic initiatives.

Demand for cost management and transformation was expected to increase in the next year, with the company citing a recent Deloitte survey showing that 66% of executives were likely to pursue cost reduction strategies over the next 12 months, and a further 75% of Fortune 500 companies believing that Covid-19 would accelerate their "technological transformation".

Retearn had an "outstanding reputation" in the market, Elixirr said, adding that its clients rated it 51% higher than the competition, with the firm added to the Financial Times list of the UK's leading management consultants for 2021.

It would be the company's second acquisition since its initial public offering in July, with the directors noting that it was fully in line with its 'house of brands' strategy.

The acquisition would also be immediately earnings enhancing.

"The current climate determines an even greater need for business leaders to run efficient operations, whilst the necessity to invest in growth remains paramount," said Elixirr founder and chief executive officer Stephen Newton.

"Combining Retearn's expertise in unlocking material savings for businesses with Elixirr's extensive growth and innovation-led capabilities will enable our clients to accelerate investment into their biggest strategic initiatives."

Newton noted that it was Elixirr's second acquisition in little over six months, as it progressed its growth plans.

"Founded by three ambitious entrepreneurs who are driven by making real change happen for clients, Retearn echoes Elixirr's ethos entirely.

"I'm excited to see what the future holds for the 'house of brands' as we continue to maintain our passion for client success whilst widening the breadth of our service offering."

At 1130 BST, shares in Elixirr International were up 10.93% at 477p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

ELIX Market Data

Currency UK Pounds
Share Price 565.00p
Change Today -17.50p
% Change -3.00 %
52 Week High 630.00
52 Week Low 420.00
Volume 53,810
Shares Issued 47.27m
Market Cap £267.09m
RiskGrade 251

ELIX Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
79.58% below the market average79.58% below the market average79.58% below the market average79.58% below the market average79.58% below the market average
64.44% below the sector average64.44% below the sector average64.44% below the sector average64.44% below the sector average64.44% below the sector average
Price Trend
42.74% above the market average42.74% above the market average42.74% above the market average42.74% above the market average42.74% above the market average
22.77% above the sector average22.77% above the sector average22.77% above the sector average22.77% above the sector average22.77% above the sector average
Income
7.07% below the market average7.07% below the market average7.07% below the market average7.07% below the market average7.07% below the market average
32.31% below the sector average32.31% below the sector average32.31% below the sector average32.31% below the sector average32.31% below the sector average
Growth
89.65% above the market average89.65% above the market average89.65% above the market average89.65% above the market average89.65% above the market average
92.00% above the sector average92.00% above the sector average92.00% above the sector average92.00% above the sector average92.00% above the sector average

ELIX Dividends

  Latest Previous
  Interim Final
Ex-Div 18-Jan-24 20-Jul-23
Paid 15-Feb-24 18-Aug-23
Amount 5.30p 10.80p

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 4,273 @ 565.00p
16:35 273 @ 565.00p
16:35 4,000 @ 565.00p
16:23 1 @ 565.00p
15:51 750 @ 572.60p

ELIX Key Personnel

CEO Stephen Alexander Newton
CFO Graham Edward Busby

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