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Connecting Excellence Group Plc (AQSE:XCE, OTCQB:XCELF) CEO Scott Ellam spoke with Proactive's Stephen Gunnion about the company's first acquisition, strong growth at operating company Spencer Riley, its recruitment strategy and Bitcoin treasury expansion.

Ellam said the company is pursuing "accelerative growth through the acquisition of businesses and accretive growth through the hiring of revenue-generating talent," targeting profitable, scalable, owner-managed recruitment firms where existing owners want to stay involved.

The first acquisition target generated ยฃ1.79 million in revenue and ยฃ431,000 in EBITDA over the past 12 months, a strong fit for the model. The proposed deal includes ยฃ150,000 of net cash due upfront and 8.213 Bitcoin held on the target's balance sheet.

Ellam also highlighted growth at Spencer Riley, where revenue rose 20.6% for the 2026 financial year, with four experienced revenue-generating recruiters joining, including a new hire launching a private equity and leadership division focused on portfolio companies and C-level appointments.

XCE has grown its Bitcoin treasury to just under 73 Bitcoin, with Ellam focused on increasing both "revenue per share and Bitcoin per share." Looking ahead, he pointed to completing the first acquisition, further deals and additional hires as key milestones, with medium-term targets of ยฃ10 million revenue and over 100 Bitcoin.

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