XCE agrees first UK acquisition, absorbing Bitcoin holdings at no cost
Connecting Excellence Group has signed binding Heads of Terms to acquire two UK-registered construction and engineering recruitment firms operating as a single brand, with combined revenue of £1.79 million and EBITDA of £431,000 for the year to 30 June 2026, financed by an initial £575,000 cash payment and a net cash outflow of about £150,000 after settling debts; the targets hold 8.216 Bitcoin transferred on a no-net-cost basis at market value. Spencer Riley posted a 20.6% revenue gain to about £1.84 million, while XCE’s Bitcoin holdings rose to 72.94 BTC, and the deal includes an earn-out linked to EBITDA through FY29 with further payments due in 2028, alongside plans to expand into private equity leadership recruitment.
Finance · 6 sources · Sep 1, 2026Read itThe journal
Open the journal →The conversation starts in the journal — be the first to post.
About Riley and the Roxies
Riley and the Roxies is a musical project by recording artist and producer Spencer Riley. The band originated in Los Angeles, California, and Riley's music has been featured in various television shows, including ABC Family's Pretty Little Liars and MTV's Underemployed.
Everything about Riley and the Roxies →- Inception
- 2011