Business
Acquisition of Work.Place.Create. by Aukett Swanke
Built Cybernetics plc announced that its architecture business, Aukett Swanke Limited, has acquired interior design firm Work.Place.Create. Limited for its net asset value, with an initial payment of £50,000 and the balance due upon agreement of completion accounts. Work.Place.Create. reported a profit of £91,000 on revenue of £394,000 for the twelve months to July 31, 2025, and a profit of £25,000 on revenue of £86,000 for the three months to October 31, 2025, with net assets of approximately £115,000 including £145,000 cash as of October 31, 2025. Potential further payments are capped at £125,000 for 2026 and £25,000 for 2027, contingent on revenue targets, with the acquisition expected to be cashflow positive. This move is intended to strengthen Aukett Swanke's interiors capacity and generate leads for the Group's smart building businesses. Disclaimer*
About this update from Built Cybernetics Plc
[{"type":"text","content":"\n\n5 January 2026\n \nBuilt Cybernetics plc\n(\"Built Cybernetics\" or, together with its subsidiaries, the \"Group\")\n \nAcquisition of Work.Place.Create. by Aukett Swanke\n \nBuilt Cybernetics (AIM:BUC), the smart buildings group, is pleased to announce that its full service architecture business Aukett Swanke Limited (\"Aukett Swanke\") has acquired interior design firm Work.Place.Create. Limited (\"WPC\").\n \nWPC offers a range of interior design services to corporate clients, primarily in London and the South East, which is highly complementary to Aukett Swanke's existing and target client base. The WPC business will be integrated into that of Aukett Swanke, and the vendor Nick Viner has joined the board of Aukett Swanke as the director responsible for interiors.\n \nThe acquisition strengthens the capacity of Aukett Swanke's interiors team, which is currently delivering a seven figure contract to upgrade the interiors of a Grade I listed building in the City of London with the work scheduled to continue for several years.\n \nWith a client base more focused on tenants than on landlords, WPC is also expected to provide an important additional source of leads for Vanti and ecoDriver, the Group's smart buildings businesses.\n \nUnaudited management accounts indicate that, to the nearest £1,000, for the 12 months to 31 July 2025 WPC made a profit of £91,000 on revenue of £394,000, and for the 3 months to 31 October 2025 made a profit of £25,000 on revenue of £86,000. WPC's net asset value at 31 October 2025 was approximately £115,000 including cash of approximately £145,000.\n \nAcquisition terms\n \nThe entire share capital of WPC has been acquired for the net asset value at completion. A payment on account of £50,000 has been made with the balance due once completion accounts have been agreed.\n \nFurther payments may be made as follows:\n \nIn respect of the calendar year ending 31 December 2026 a payment equal to a quarter of relevent revenues for that year, capped at £125,000 provided the WPC business generates £500,000 of total revenue.\n \nIn respect of the calendar year ending 31 December 2027 a payment capped at £25,000 provided the WPC business generates £750,000 of total revenue.\n \nThese additional payments would be made following receipt of...