Acquires Nexo to strengthen its position in Brazil and Latin America
Nexo has been growing continuously since it was founded in 2017. With revenues of approximately 12 million Brazilian Reales (approx. 2.1 million USD) in 2024, and a highly capable team of 21 members, Nexo has built a strong reputation for delivering transformative projects in strategy, innovation, leadership, and culture.
Nexo collaborates with a great portfolio of clients across sectors such as financial services, consumer goods, and technology, assisting both local and global companies in navigating uncertainty, unlocking creativity, and activating strategy through people. Their work encompasses culture transformation, leadership development, employer value proposition, innovation culture, and vision alignment – supported by proprietary methodologies and frameworks.
BTS currently operates in Brazil servicing both local and multinational clients with a team of 13 employees. By acquiring Nexo, BTS not only increases the Group's footprint in Brazil but also adds significant capabilities in culture and transformation services. Nexo's client base has limited overlap with BTS, creating strong growth potential and synergy opportunities.
'Nexo is known for helping leaders and organizations tackle some of the most complex, human-centered challenges with creativity, empathy, and strategic clarity and the Nexo team is loved by their clients,' says Philios Andreou, Deputy CEO of BTS Group and President of the Other Markets Unit. 'Their products and services complement and elevate our existing offerings, especially in culture transformation, and we are thrilled to welcome the Nexo team to BTS.'
'We're excited to join BTS. We've long admired BTS's approach and unique portfolio to support large organizations and leaders in connecting strategy with culture across the organization,' says Andreas Auerbach, co-founder of Nexo. 'Becoming part of BTS, allows us to scale our impact and bring more value to our clients while staying true to our values and culture,' adds Mariana Lage Andrade, co-founder of Nexo.
Upon completion of the transaction, Nexo's business and organization will merge with BTS Brazil. Nexo's founders will assume senior management roles in the joint operation.
The acquisition includes a limited initial cash consideration. Additional purchase price considerations will be paid between 2026 and 2028, provided Nexo meets specific performance targets. A limited portion of any such additional purchase price considerations will be paid in newly issued BTS shares. The transaction is effective immediately.
BTS's acquisition strategy continues to focus on broadening our service portfolio, expanding our geographic reach, and enhancing our capabilities to support future organic growth in a fragmented market.
For more information, please contact:
Philios Andreou Deputy CEO BTS Group AB philios.andreou@bts.com
Michael Wallin Head of investor relations BTS Group AB michael.wallin@bts.com +46-8-587 070 02 +46-708-78 80 19
About BTS Group AB
BTS is a global professional services firm headquartered in Stockholm, Sweden. BTS has about 1,200 professionals in 38 offices located on six continents. BTS competes in both talent and HR consulting as well as the traditional consulting markets. BTS's services support a broad range of client challenges including top-to-bottom and on-demand leadership development, talent selection and readiness, strategy creation andstrategy implementation, as well as culture and broad-scale change. For over 35 years, BTS has been focused on the people-side of change and on powering better performance using proprietary simulation, learning, coaching, and assessment methodologies. We partner with nearly 1,200 organizations, including over 40 of the world's 100 largest global corporations.
BTS is a public company listed on the Nasdaq Stockholm exchange and trades under the symbol BTS B.
For more information, please visit www.bts.com.Attachment
BTS Group Press release May 5
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