BTS Group AB
STOCKHOLM, Sweden – BTS GROUP AB (publ.), a leading global strategy execution firm, has agreed to acquire the workforce development and learning business and related assets of Bangkok, Thailand-based Seasia Leadavation Company Ltd (SEAC). SEAC is owned by publicly listed AP (Thailand) PCL.
Founded in 1992 as the APM Group, SEAC is Southeast Asia’s leading leadership and talent development company. Over the past 32 years, SEAC’s mission to develop and empower people and organizations has served over 1,500 organizations and 3 million leaders and learners. APM was integrated into the AP Thailand Group in 2017 and operates under the SEAC brand.
With offices in Bangkok and operations across the Southeast Asia region, SEAC delivers world-class, impactful leadership and talent development solutions through its proprietary, innovative and smart learning processes and technology platforms. SEAC’s solutions help clients transform work models, build future-critical competencies and drive powerful cultural change to drive successful strategies.
SEAC has an experienced team of over 50 consultants and specialists who will join BTS as part of the transaction and is expected to generate revenues of approximately US$6.5 million in 2023, with robust growth expected this year.
The consideration, including assumed debt, is US$7.5 million, of which US$6 million will be payable at closing. The remaining payment will be made in the coming months following the achievement of certain milestones. The transaction will become effective upon completion of closing procedures, which are expected to close in the coming days.
The Southeast Asian business is one of BTS’ fastest growing businesses, with Thailand being a large and growing market with many prestigious clients. With SEAC’s impressive portfolio of local and global companies operating in the region with minimal overlap with BTS, and its learning experience platform, innovative solutions portfolio and proprietary 456 Smart Learning experience design and delivery process, the acquisition of SEAC will significantly enhance BTS’ position in Thailand, strengthen its market presence in Southeast Asia and pave the way for even stronger growth in one of the world’s fastest growing regions.
“We are really pleased to welcome the SEAC team to our company,” said Philios Andreou, Deputy CEO of BTS Group. “Their client outcome focus, the quality of their innovative learning methods, their entrepreneurial spirit, passion and fantastic team are a perfect fit with BTS’ organizational DNA and values. As the two businesses come together, there will be opportunities to further increase profitability over time.”
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The integration into BTS will enable SEAC’s team to accelerate their personal and company growth and expansion into new markets. “Since our early days at APM Group, we have been passionate about serving and growing organizations and people in Southeast Asia. Joining BTS will allow us to exponentially accelerate this goal,” said Arinya Talerngsri, current Managing Director of SEAC.
“Our combined skills create a ‘dream team’ that accelerates our clients’ regional and global growth and success,” said James R. Engel, SEAC’s chief learning architect.
The SEAC organisation will merge with BTS Thailand, part of BTS Southeast Asia, but its solutions, methodologies and platforms will also be sold and leveraged across the BTS Group.
“The combination of talent and assets that SEAC brings to BTS, combined with our current presence, will strengthen our leadership position in the region, expanding our clients’ business impact and reaching more leaders. We are excited about the great opportunities ahead as we join forces,” said Gianfranco Di Maira, Partner and Head of Southeast Asia, BTS.
BTS’ acquisition strategy is aimed at building a broader base for future organic growth while aggressively consolidating in a highly fragmented market. Through acquisitions, BTS hopes to offer innovative services to new and existing customers.
For further information, please contact:
Philios Andreou, Deputy CEO
BTS Group AB
philios.andreou@bts.com
Michael Wallin, Head of Investor Relations
email address
Direct: +46 8-587 070 02
Mobile: +46 708 78 80 19
About BTS Group AB
BTS is a global professional services company headquartered in Stockholm, Sweden. BTS has around 1,100 professionals in 38 offices across six continents. BTS operates in the traditional consulting market as well as in talent and HR consulting. BTS services support a wide range of client challenges, from top to bottom, on-demand leadership development, talent selection and preparation, strategy creation and execution, culture and large-scale change. For over 35 years, BTS has focused on HR change and performance improvement using proprietary simulation, learning, coaching and assessment methodologies. We work with around 1,200 organizations, including more than 40 of the world’s 100 largest global companies.
BTS is a public company listed on the Nasdaq Stockholm exchange under the ticker symbol BTS B.
For more information, please visit www.bts.com.
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