Built Cybernetics has strengthened its smart buildings offer with the acquisition of London-based interior design firm Work.Place.Create.
The AIM-listed group鈥檚 full-service architecture business, Aukett Swanke, has acquired 100% of Work.Place.Create Limited (WPC), which provides interior design services to corporate clients, primarily across London and the South East.聽
The deal is designed to complement Aukett Swanke鈥檚 existing client base and deepen its interiors capability.
As part of the acquisition, WPC will be fully integrated into Aukett Swanke and its founder, Nick Viner, has joined the board as director responsible for interiors.聽
London-based Built Cybernetics said the move significantly bolsters Aukett Swanke鈥檚 interiors team, which is currently delivering a seven-figure contract to upgrade a Grade I listed building in the City of London, with work expected to run for several years.
The business also highlighted the strategic value of WPC鈥檚 client mix, which is more focused on tenants than landlords.聽
This is expected to create an additional pipeline of leads for Vanti and ecoDriver, Built Cybernetics鈥� smart buildings businesses, as demand grows for technology-enabled, energy-efficient workplace fitouts.
For the 12 months to 31st July 2025, WPC generated revenue of 拢394,000 and a profit of 拢91,000.聽
At the end of October, its net asset value stood at approximately 拢115,000, including around 拢145,000 of cash.
Under the terms of the deal, Built Cybernetics acquired WPC for its net asset value at completion.聽
An initial 拢50,000 payment has been made, with the balance payable once completion accounts are agreed.聽
Additional earn-out payments may follow, subject to revenue targets being met in 2026 and 2027, with the structure designed so that the acquisition remains cashflow positive.
Nick Clark, chief executive of Built Cybernetics, said: 鈥淭his 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.鈥�
The business floated nearly 40 years ago and now has a market cap of 拢7.1 million.
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