Wilmington plc (LSE:WIL) acquired Astutis Limited for £21.5 million on November 23, 2023. Wilmington has acquired Astutis for an initial consideration of £16.8 million, with contingent consideration of up to £4.7 million based on Astutis' performance in each of the two years ending June 30, 2025 and June 30, 2026. The total consideration will be financed from the Group's existing cash resources. The acquisition is part of Wilmington's strategy to focus on consolidating its already strong presence in the large, growing and rapidly evolving GRC markets. The acquisition is expected to be earnings enhancing in the first full year of ownership. In the 12-month period ended June 30, 2023, Astutis reported unaudited revenues of £7.4 million, up 25% YOY and has demonstrated a strong track record of organic growth over a number of years. Profit before tax during the period was £2.0 million with gross assets of £5.3 million, including intangible assets. Edward Persse of Osborne Clarke LLP acted as legal advisor to Wilmington. Mitesh Patelia and Peter Varley of Crowe acted as due diligence providers to Wilmington plc.

Wilmington plc (LSE:WIL) completed the acquisition of Astutis Limited on November 23, 2023.