Elixirr International has acquired Insigniam LLC and Insigniam SAS for $18.5 million

LONDON, UK: Elixirr International’s US subsidiary Elixirr Inc. announced the acquisition of all of the issued and outstanding membership interests of Insigniam LLC and Insigniam SAS (by Elixirr International ), for a maximum consideration payable of US$18.5 million.

Insigniam is a US-headquartered consultancy firm with 50+ personnel specialising in supporting clients and executives to define and navigate large scale change and transformation.

This is the Group’s fifth acquisition since its IPO in July 2020 and third in the US, enhancing the Group’s presence in this key market.

In the 12 months to November 2023, Insigniam recorded revenue of US$13.7m, normalised EBITDA of US$2.3m and normalised profit before tax of US$2.3m.

The initial consideration represents a multiple of 5.7x 2023 LTM EBITDA, based off November 2023 LTM financials (unaudited).

The acquisition brings specialist services in transformation, leadership alignment, cultural change, and executive coaching, complementing the Group’s existing service offerings.

In addition to an expansion of capabilities, Insigniam has deep expertise in additive industries for Elixirr, and in particular has built a reputation as market leaders within industries such as healthcare, biopharmaceuticals, life sciences, consumer and retail.

Insigniam also has a significant presence and client-base in continental Europe, complementing the Group’s presence in this region.

Insigniam’s top clients include Fortune 500 companies and household brands, many of which are maintained through the leadership’s long-standing relationships with the C-suite, coupled with its unique service offering.

During due diligence and client interviews, Insigniam was found to be rated 43% better than their competition and has an NPS score of 66 – 85% of its clients report that Insigniam provides more value than any other consulting firm. Together with Insigniam, Elixirr will be able to enhance its existing service offering to its global client base.

The US acquisition goodwill will be tax-deductible, resulting in an estimated tax benefit of US$2.8m-$4.3m to be realised over 15 years.

Founder & CEO of Elixirr, Stephen Newton said: “I am always exceptionally proud to expand our team, and finding the right people to bring into the group is no small task. Our M&A team works tirelessly to find companies that not only broaden what we’re able to offer clients but improve the work we’re already doing with them.

We also look for those who share in Elixirr’s ethos, entrepreneurial spirit and desire to create meaningful change – and in Insigniam we have found exactly that. I look forward to seeing the impact of their team’s unique approach to consulting – which looks deeply into the areas many consultancies often overlook or don’t have true capability to impact.

They are the undisputed market leaders in transformation and organisational change, and this is something that will be extremely valuable to both our current and future clients. By combining our services and expertise, from strategy through to execution, we are very well-positioned to provide full end-to-end services to our collective clients in a more impactful, dynamic way.”

Co-Founder of Insigniam, Shideh Sedgh Bina said: “We are thrilled that Elixirr not only expands our ability to provide an enhanced range of services for our clients, but also enables us to partner with C-suite executives to design and execute on their fit-for-21st-century-agenda. The Elixirr disrupter mindset, entrepreneurial culture and leadership team are perfectly aligned with our commitment to serve our clients to deliver remarkable results.

Like Insigniam, Elixirr is not afraid to challenge convention, talk straight and disrupt the status quo. Elixirr and Insigniam both hold dear an ethos of deep client service, and we believe that together, combining the best of ‘being human’ with technology and data, we will deliver dramatic new outcomes for our clients.”

Co-Founder of Insigniam, Nathan Owen Rosenberg said: “Insigniam’s combination with Elixirr gives our clients a range of services that, in my scan of the market, has not been available. Already, the Elixirr partners and Insigniam partners are collaborating to catalyse new value for our combined clients, as well as working on a new set of offerings. Literally, we can now offer the full range of expertise and services needed to transform a CEO’s agenda into reality.

Clients will see new capabilities to fulfill their intentions. We now provide extraordinary value to the CEO and his or her team and to each executive in the C-suite, beyond what either firm could offer before the combination.”

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