Aukett Swanke acquires smart workplace systems distributor Anders+Kern

LONDON,UK: Aukett Swanke (AIM: AUK), the group providing Smart Buildings, Architectural and Design Services, has announced the acquisition of Anders+Kern, a distributor of smart workplace systems, for up to £560,000.

The acquisition is part of Aukett Swanke’s strategy to expand its expertise and revenues in the Smart Buildings sector, which uses technology to improve the efficiency and experience of building users and owners.

Anders+Kern (A+K) provides hardware, software, and installation services for room and desk booking systems, as well as IoT sensors to monitor environmental and occupancy data. The data can be analysed using artificial intelligence to provide insights and recommendations for optimising the use of space and resources.

A+K was previously owned by SmartSpace Software plc (AIM:SMRT), a provider of workspace optimisation software. A+K will continue to distribute SmartSpace’s SpaceConnect product, but will also benefit from the systems and resources of Aukett Swanke’s Torpedo Factory (TFG) business, which was acquired in March.

A+K reported revenues of £2.09m and a trading loss before tax of £169k for the year ended 31 January 2023. It employed an average of 11 people during that period, but has since undergone a restructuring that reduced its headcount to seven. The business is now trading profitably and expects to exceed its prior year revenue.

The consideration for the acquisition is £515,057 in cash, subject to a working capital adjustment that is limited to a further £45,000. The net assets acquired are estimated to be approximately £250,000. Aukett Swanke has received customary warranties and indemnities from the vendor, guaranteed by SmartSpace.

Clive Carver, Chairman of Aukett Swanke, said: “We are pleased to be completing on a second acquisition to accelerate our Smart Buildings strategy following the Torpedo Factory acquisition in March. The A+K business has been known to TFG for some time, and the Board believes that TFG’s systems and resources will enable A+K to scale faster and more profitably.”

Barrie Meehan, Managing Director of A+K, said: “We are delighted to join the Aukett Swanke group and look forward to working with TFG and the other businesses within the group. We believe that our expertise in smart workplace systems will complement the group’s architectural and design services, and create new opportunities for growth.”

Aukett Swanke signs documentation to acquire Torpedo Factory Group