BTG Consulting plc (LSE:BTG) has acquired Hornbeam CPAM Limited, a Milton Keynes-based property and asset management business, for total consideration of up to £4.0 million.
Hornbeam, which employs 13 people, will become part of BTG Eddisons, the group’s real estate advisory division.
The acquired business generates annual revenue of £1.9 million and pre-tax profit of £0.6 million. Its activities include property and asset management, with a focus on industrial properties and institutional clients.
BTG to Pay £2 Million Initial Consideration
The acquisition includes initial consideration of £2.0 million, comprising a combination of cash and newly issued BTG shares.
A further consideration of up to £2.0 million may become payable under performance-based earn-out arrangements. BTG said the additional consideration would be funded from its existing resources.
Management expects the acquisition to be immediately earnings-enhancing.
BTG also expects the transaction to expand its relationships with institutional property investors and provide opportunities to offer additional BTG Eddisons services to Hornbeam’s existing clients.
BTG Issues 313,059 New Shares
As part of the transaction, BTG is issuing 313,059 new ordinary shares.
Admission of the new shares to trading on AIM is expected on 28 September 2026.
Following admission, BTG will have 161,800,700 ordinary shares in issue, with total voting rights of 161,687,735.
Hornbeam to Join BTG Eddisons
Hornbeam’s property management operations and contracted revenues will be incorporated into BTG Eddisons.
BTG Consulting provides financial and real estate advisory services, with BTG Eddisons serving institutional investors, fund managers and other property clients.
The group pursues growth through a combination of organic development and acquisitions across its advisory operations.
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