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  6. Elixirr Acquires TRC

M&A Deal Summary

Elixirr Acquires TRC

On September 22, 2025, Elixirr acquired business services company TRC for 125M USD

Acquisition Highlights
  • This is Elixirr’s 2nd transaction in the Business Services sector.
  • This is Elixirr’s largest (disclosed) transaction.
  • This is Elixirr’s 4th transaction in the United States.
  • This is Elixirr’s 1st transaction in Illinois.

M&A Deal Summary
Date 2025-09-22
Target TRC
Sector Business Services
Buyer(s) Elixirr
Deal Type Add-on Acquisition
Deal Value 125M USD

Target

TRC

Chicago, Illinois, United States
TRC is a challenger consultancy helping its clients define and deploy strategies to outperform. Its business focuses on four areas of expertise: growth strategy and value creation, pricing excellence, commercial effectiveness, and resource productivity. TRC is based in Chicago, Illinois.

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Buyer(S) 1

Buyer

Elixirr

London, United Kingdom
Category Company
Founded 2009
Sector Marketing
DESCRIPTION

Elixirr is a different type of consultancy that helps clients change the game in their industries, and are changing the game in our own. The Company helps large corporates move quickly, and operate like a startup by building new businesses (and capabilities) outside of the technology and governance constraints of their existing organisation. Elixirr was formed in 2009 and is based in London, England.

DEAL STATS #
Overall 5 of 5
Sector: Business Services M&A 2 of 2
Type: Add-on Acquisition M&A Deals 5 of 5
State: Illinois M&A 1 of 1
Country: United States M&A 4 of 4
Year: 2025 M&A 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-21 Hypothesis

Los Angeles, California, United States

Hypothesis is a consumer-centric insights, design, and creative agency specializing in research that is foundational, holistic, and forward looking. Hypothesis is based in Los Angeles, California.

Buy $45M
Mergr

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