Elixirr has announced the acquisition of US-based consultancy, TRC Advisory, for $125m.

The UK-headquartered challenger consultancy stated that the takeover "fits perfectly" with its strategy to evolve its capabilities, widen its industry diversification and grow its international presence, particularly within the US.

The deal marks Elixirr’s seventh acquisition since its AIM IPO in 2020 and the first since its admission to the London Stock Exchange (LSE) in July.

Founder and chief executive officer at Elixirr, Stephen Newton, said "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. They've earned the trust of some of the world's most ambitious clients by bringing sharp thinking and commercial impact, not just theory. That's the Elixirr way, too."

Founder and managing director at TRC, Tim Romberger, added: "Elixirr is the ideal partner for TRC in enabling our next stage of growth and - most importantly - our principal objective of bringing the advice and support necessary for our clients to outperform. We share the same entrepreneurial DNA, client-first mindset and orientation towards tailored, data-driven strategies underpinned by stronger implementation muscles."

The acquisition comes as Elixirr announced a 38% year-on-year increase in its profit before tax in the six months to 30 June, totalling £20.1m.

The firm's revenue rose by 35% to £71.4m in this period and its EBITDA jumped by 42% to £21.5m.

Furthermore, its earnings per share increased by 35% to 29 pence.

Elixirr said it had maintained strong momentum across all four pillars of its growth strategy, highlighting the demand for its wide-ranging and integrated service offering.

Founder and chief executive officer at Elixirr, Stephen Newton, said: "H1 25 has been an exceptional and transformative period for Elixirr, marked by continued record-breaking profitable growth.

"Our entrepreneurial mindset and ambition to push the boundaries of what's possible has driven a series of impressive firsts for the firm. Our successful move from AIM to the main market of the LSE on 1 July underscored an excellent H1 and was a particularly proud milestone and a testament to the commitment of our team and scale of our ambitions."

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