SPARK Advisory Partners Limited (“SPARK”) is pleased to announce that it has advised ILX Group plc, the AIM listed training, consultancy and recruitment group, on the successful acquisition of Progility Pty Limited, a communication systems integration business which will transform the scope and scale of the Group’s activities in project management. The acquisition, which completed on 4 October, constituted a reverse takeover. Following the transaction ILX Group has changed its name to “Progility plc”. ILX paid £15.97m in consideration shares for Progility, which values the Enlarged Group at a market capitalisation of some £20 million.
Wayne Bos, Executive Chairman and Interim CEO of ILX and Chairman of Progility Pty Ltd, said: “Both of these companies have energetic, motivated management and combining the two will create a dynamic project management eco-system with scale and flexibility, which is important to new and existing customers. From this new platform, we intend to grow the Group both organically and by selective acquisition using our AIM listing to expand and access capital where appropriate.“