RCS - Built Cybernetics - Acquisition of Work.Place.Create. by Aukett Swanke

Built CyberneticsAnnouncement

05/01/2026 07:00

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RNS Number : 5513N  Built Cybernetics PLC  05 January 2026

5 January 2026

 

Built Cybernetics plc

("Built Cybernetics" or, together with its subsidiaries, the "Group")

 

Acquisition of Work.Place.Create. by Aukett Swanke

 

Built 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").

 

WPC 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.

 

The 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.

 

With 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.

 

Unaudited 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.

 

Acquisition terms

 

The 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.

 

Further payments may be made as follows:

 

In 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.

 

In 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.

 

These additional payments would be made following receipt of funds, making the
acquisition cashflow positive.

 

In line with other members of the Group's senior management team the vendor
will join the existing share schemes and is expected to build a shareholding
in the Group by purchasing shares in the open market subject to the rules of
the Group's Share Dealing Code.

 

Comments

 

Nick Clark, Chief Executive, commented:

 

"This acquisition further strengthens Aukett Swanke's interiors offer, a key
proposition with recent successes at Lazard and Lloyd's of London, and one
that aligns with the growing use of smart building technology in these
fit-outs."

 

 

 Investor Enquiries                                       https://builtcybernetics.com/link/e95pze

                                                        (https://builtcybernetics.com/link/e95pze)
 We encourage all investors to share questions

 on this announcement via our investor hub
 Built Cybernetics plc                                    +44 (0)20 7843 3001

 Clive Carver, Chairman

 Nick Clark, Chief Executive
 Canaccord Genuity Limited, Nominated Adviser and broker  +44 (0)20 7523 8000

 Stuart Andrews

 Elizabeth Halley-Scott

 

About Built Cybernetics plc

Built Cybernetics is a London-quoted PropTech group delivering Smart Buildings
and related services. The Group is uniquely positioned to ensure the technical
systems that run modern premises are designed as an integral part of the
structure, from the outset. By cross-selling smart buildings services
alongside our renowned architecture projects, the Group's strategy positions
Built Cybernetics plc to build beyond one-off project fees and generate
scalable and recurring revenues for our investors.

 

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