BTS joins HRC and GLAAD’s “Count Us In” Pledge supporting LGBTQIA+ rights

P R E S S R E L E A S E
Stockholm, May 5, 2025

STOCKHOLM, SWEDEN – BTS Group AB (publ), a leading global consultancy specializing in strategy execution, change, and people development, has agreed to acquire Nexo Pesquisa e Consultoria Ltda., Nexo, a boutique consulting firm headquartered in São Paulo, Brazil.

Nexo has been growing continuously since it was founded in 2017. With revenues of approximately 12 million Brazilian Reales (approx. 2.1 million USD) in 2024, and a highly capable team of 21 members, Nexo has built a strong reputation for delivering transformative projects in strategy, innovation, leadership, and culture.

Nexo collaborates with a great portfolio of clients across sectors such as financial services, consumer goods, and technology, assisting both local and global companies in navigating uncertainty, unlocking creativity, and activating strategy through people. Their work encompasses culture transformation, leadership development, employer value proposition, innovation culture, and vision alignment – supported by proprietary methodologies and frameworks.

BTS currently operates in Brazil servicing both local and multinational clients with a team of 13 employees. By acquiring Nexo, BTS not only increases the Group’s footprint in Brazil but also adds significant capabilities in culture and transformation services. Nexo’s client base has limited overlap with BTS, creating strong growth potential and synergy opportunities.

“Nexo is known for helping leaders and organizations tackle some of the most complex, human-centered challenges with creativity, empathy, and strategic clarity and the Nexo team is loved by their clients,” says Philios Andreou, Deputy CEO of BTS Group and President of the Other Markets Unit. “Their products and services complement and elevate our existing offerings, especially in culture transformation, and we are thrilled to welcome the Nexo team to BTS.”

“We’re excited to join BTS. We’ve long admired BTS’s approach and unique portfolio to support large organizations and leaders in connecting strategy with culture across the organization,” says Andreas Auerbach, co founder of Nexo. “Becoming part of BTS, allows us to scale our impact and bring more value to our clients while staying true to our values and culture,” adds Mariana Lage Andrade, co-founder of Nexo.

Upon completion of the transaction, Nexo’s business and organization will merge with BTS Brazil. Nexo’s founders will assume senior management roles in the joint operation.

The acquisition includes a limited initial cash consideration. Additional purchase price considerations will be paid between 2026 and 2028, provided Nexo meets specific performance targets. A limited portion of any such additional purchase price considerations will be paid in newly issued BTS shares. The transaction is effective immediately.

BTS’s acquisition strategy continues to focus on broadening our service portfolio, expanding our geographic reach, and enhancing our capabilities to support future organic growth in a fragmented market.

For more information, please contact:
Philios Andreou
Deputy CEO
BTS Group AB
philios.andreou@bts.com

Michael Wallin
Head of investor relations
BTS Group AB
michael.wallin@bts.com
+46-8-587 070 02
+46-708-78 80 19

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At BTS, we’re constantly challenging ourselves to innovate at speed. And right now, it feels like we’re standing at the edge of something massive. The energy? Electric. The velocity? Unprecedented. For many of us, the current pace feels a lot like the early days of the pandemic: disorienting, high-stakes, and somehow exhilarating. And honestly—it should feel that way. Our teams have been tinkering with AI, specifically LLMs, for the past 2.5 years and it has really been in the last eight months that I can see the profound impact it is going to have for our clients, for our services and our operating model.

The opportunity isn’t about the technology. The world has it and it’s getting better by the minute. The issue is people and people’s readiness to adopt it and be re-tooled and re-skilled. It’s about leadership. AI is deeply personal, it’s surgical. In fact, that’s its genius. So, getting full scale adoption of AI, re-tooling everyone in the company by workflow, so that they can invent new services, unlock new customer value, unlock new levels of productivity, even use it for a better life, is the current race. The central question I’ve been wrestling with, alongside our clients and our own teams, is this:

What does AI actually mean for leadership and culture?

And the answer is clearer by the day: AI isn’t just a new toolset. It’s a new mindset. It demands that we rethink how we lead, how we learn, and how we build thriving organizations that can compete, adapt, and grow.

The productivity paradox revisited

Let’s start with the elephant in the boardroom. There’s been a lot of buzz around AI and its promises. But many leaders have quietly wondered: Will any of this actually move the needle? A year ago, we were asking the same thing. We had licenses. We had curiosity. We had early experiments. But the results were modest, a 1% productivity gain here or there. But by April, we were seeing:

• 30–80% productivity gains in software engineering
• 9–12% gains in consulting teams
• 5%-20% improvements in client success and operations

Just as importantly, the innovation unlock and creativity across our platforms due to vibe coding along with new simulation layers, is leading to new value streams for our clients. This isn’t theoretical. It’s not hype. It’s real. The difference? Adoption, ownership, and a shift in how we lead in order to energize the AI innovation within our teams. The challenge now isn’t whether AI creates value. It’s how to unlock and scale that value across teams, geographies, and business units—and do it fast.

Two Superpowers of the Agentic AI Era

In working with leaders across industries, I’ve come to believe in two superpowers (there are more as well) that will unlock the potential of this AI era: Jazz Leadership and a Simulation Culture.

1. Jazz Leadership

Forget the orchestra (although personally I am a big fan.) The successful team cultures that are innovating with AI feel more like jazz. In jazz, there’s no conductor. There’s no fixed sheet music. There are core bars and then musicians make up music on the spot based on each other’s creativity, building off of each other’s trials, riffs and mistakes, build something extraordinary together. This is how experimenting with AI today, in the flow of work, feels like.

For each activity across a workflow, how can new AI prompts, agents, and GPTs make it better, codify high performance, drive speed and quality simultaneously? How can we try something totally different and still get the job done? How might we re-invent how we work? That’s how high-performing teams operate in the AI era. The world is moving too fast for command-and-control leadership, a perfect sheet of music with one leader who is interpreting the sheet music and directing. What we need instead is improvisation, trust, shared authorship, courage and a playful spirit because there are just as many fails as breakthroughs.Jazz leadership is about creating the conditions where:

• Ideas can come from anywhere
• People see tinkering and testing as key to survival and AI failures mean your team is at the edge of what’s possible for your services and ways of working
• Leaders say, “I don’t have all the answers, but I’ll go first, with you”
• People feel “I’m behind relative to my peers in the company” and the company sees this as a good sign because the pace of learning with AI means higher chance of success in the new era

At BTS, we recently promoted five new partners who embody this mindset. They weren’t the most traditional leaders. But they were the most generative. They coached others. They experimented and are constantly re-tooling themselves and others. They inspired movement. They are keeping us ahead, keeping our clients ahead and driving our re-invention. Jazz leaders make teams better, not by directing every note—but by setting the stage for breakthroughs. It is similar to the agile movement, similar to how it felt in Covid as companies had to reinvent themselves. It’s entrepreneurial, chaotic and fun.

2. Simulation Culture

The ability to simulate is a super-power in this next agentic, AI era. Simulation has always been part of creating organizational agility, high performance and leadership excellence. But AI and high-performance computing have transformed it into something bigger, faster, and infinitely more powerful. It means that building a simulation culture is within all of our grasp, if we tap its power.Today, companies simulate:

• Strategic alternatives - from market impact all they way to detailed frontline execution
• New business, new markets and operating models
• Major capital deployment e.g. build a digital twin of a factory before breaking ground
• Initiative implementation
• Workflows current and future
• Jobs to assess for talent and critical role readiness
• Customer conversations and sales enablement motions

With a simulation culture, where you regularly engage in scenario planning and expect preparation and practice as a way of working, billions in capital is saved, cross-functional teams are strengthened, high performance gets institutionalized, win rates increase, earnings and cash flow improves.

Where to get started

Below are a few examples of what leading organizations are doing. Consider testing these in your own organization:

• Conversational AI bot platforms used to scale performance expectations and the company’s unique culture.
• Agentic simulations built into tools so people can prepare and practice with 100% perfect context and not a wasted moment.
• Digital twins of the job created so that certifications and hiring decisions are valid.
• Micro-simulations spun up in hours to align 50,000 people to a shift in the market or a new operational practice.

Final Thoughts

• Lead like a jazz musician. Embrace improvisation, courage and shared creativity.
• Build a simulation culture. Because in a world that’s moving this fast, practice isn’t optional—it’s how we win.

This is a brave new world. Not five years from now. Right now.Let’s shape it—together.

PRESS RELEASE

Stockholm, May 5, 2025

STOCKHOLM, SWEDEN — BTS Group AB (publ), a leading global consultancy specializing in strategy execution, change, and people development, has agreed to acquire Nexo Pesquisa e Consultoria Ltda. (Nexo), a boutique consulting firm headquartered in São Paulo, Brazil.

Nexo has been growing continuously since it was founded in 2017. With revenues of approximately 12 million Brazilian Reales (about 2.1 million USD) in 2024, and a highly capable team of 21 members, Nexo has built a strong reputation for delivering transformative projects in strategy, innovation, leadership, and culture.

Nexo collaborates with a diverse portfolio of clients across sectors such as financial services, consumer goods, and technology, assisting both local and global companies in navigating uncertainty, unlocking creativity, and activating strategy through people. Their work encompasses culture transformation, leadership development, employer value proposition, innovation culture, and vision alignment—supported by proprietary methodologies and frameworks.

BTS currently operates in Brazil, servicing both local and multinational clients with a team of 13 employees. By acquiring Nexo, BTS not only increases the Group’s footprint in Brazil but also adds significant capabilities in culture and transformation services. Nexo’s client base has limited overlap with BTS, creating strong growth potential and synergy opportunities.

“Nexo is known for helping leaders and organizations tackle some of the most complex, human-centered challenges with creativity, empathy, and strategic clarity, and the Nexo team is loved by their clients,” says Philios Andreou, Deputy CEO of BTS Group and President of the Other Markets Unit. “Their products and services complement and elevate our existing offerings, especially in culture transformation, and we are thrilled to welcome the Nexo team to BTS.”

“We’re excited to join BTS. We’ve long admired BTS’s approach and unique portfolio to support large organizations and leaders in connecting strategy with culture across the organization,” says Andreas Auerbach, co-founder of Nexo. “Becoming part of BTS allows us to scale our impact and bring more value to our clients while staying true to our values and culture,” adds Mariana Lage Andrade, co-founder of Nexo.

Upon completion of the transaction, Nexo’s business and organization will merge with BTS Brazil. Nexo’s founders will assume senior management roles in the joint operation.

The acquisition includes a limited initial cash consideration. Additional purchase-price considerations will be paid between 2026 and 2028, provided Nexo meets specific performance targets. A limited portion of any such additional considerations will be paid in newly issued BTS shares. The transaction is effective immediately.

BTS’s acquisition strategy continues to focus on broadening its service portfolio, expanding geographic reach, and enhancing capabilities to support future organic growth in a fragmented market.

For more information, please contact:

Philios Andreou
Deputy CEO
BTS Group AB
philios.andreou@bts.com

Michael Wallin
Head of Investor Relations
BTS Group AB
michael.wallin@bts.com
+46-8-587 070 02
+46-708-78 80 19

En todos los sectores, la seguridad está experimentando un cambio estructural. Lo que antes se gestionaba principalmente como una función de cumplimiento o una métrica de desempeño se entiende cada vez más como un reflejo de cómo las organizaciones están diseñadas, lideradas y mejoradas de forma continua.

En entornos complejos y de alto riesgo, la seguridad no se logra únicamente mediante un mayor control o programas adicionales. Surge de la interacción entre el comportamiento del liderazgo, el diseño operativo, los entornos de decisión y la capacidad de la organización para aprender y adaptarse.

Basándonos en la ciencia global de la seguridad, el enfoque de Human & Organizational Performance (HOP), la investigación sobre seguridad psicológica y nuestra experiencia en transformación en múltiples industrias, identificamos ocho cambios clave que están definiendo la próxima evolución de la cultura de seguridad.  

1. La seguridad como valor organizacional central

La seguridad está dejando de tratarse como una prioridad cambiante. Las prioridades compiten. Los valores guían.

Cuando la seguridad se convierte en un valor central, influye en la toma de decisiones, en los compromisos bajo presión, en la planificación operativa y en la asignación de recursos. La seguridad pasa a ser una consecuencia natural de cómo funciona el sistema, en lugar de una iniciativa añadida a la producción.

Este cambio también redefine el rol de las funciones de seguridad: de supervisar el cumplimiento a habilitar un desempeño seguro y sostenible.

2. El aprendizaje como disciplina operativa

Las organizaciones están integrando el aprendizaje continuo en las operaciones diarias. En lugar de centrarse solo en lo que falló, exploran señales débiles, casi accidentes, fricciones operativas y adaptaciones exitosas.

El aprendizaje se convierte en una capacidad clave que acelera la generación de insights, fortalece la resiliencia y mejora la calidad de las decisiones.

3. Responsabilidad del liderazgo en todos los niveles

La cultura de seguridad se reconoce cada vez más como una capacidad de liderazgo, no solo como responsabilidad del área de HSE.

• Los directivos marcan la dirección y el tono.

• Los mandos intermedios traducen las expectativas en decisiones operativas.

• Los supervisores configuran el entorno de decisiones del día a día.

Las organizaciones exitosas convierten las expectativas de seguridad en comportamientos concretos de liderazgo y rutinas diarias, generando claridad y alineación entre niveles.

4. La seguridad psicológica como infraestructura

Una cultura de seguridad sólida depende de entornos donde las personas se sientan seguras para hablar.

Cuando los empleados perciben seguridad psicológica, las señales débiles emergen antes, los riesgos se discuten abiertamente y el aprendizaje se acelera.

La seguridad psicológica es una infraestructura operativa, no un tema “blando”.

5. Amplificar lo que funciona

Existe un reconocimiento creciente de que la mayor parte del trabajo se realiza de forma segura, a menudo en condiciones variables.

Estudiar el éxito revela la capacidad adaptativa y fortalece la resiliencia. Esto complementa el análisis tradicional de incidentes al reforzar la experiencia y la confianza.

6. Alinear el trabajo “imaginado” con el trabajo “real”

Los procedimientos y planes rara vez capturan perfectamente la complejidad operativa.

Las organizaciones líderes reducen la brecha entre políticas y realidad operativa incorporando la perspectiva del personal de primera línea y empoderando la autoridad para detener el trabajo.

El objetivo es una mejor alineación entre diseño y ejecución.

7. Diseñar para la toma de decisiones humana

Los incidentes suelen derivarse de sesgos cognitivos predecibles como la normalización de la desviación, el sesgo hacia la producción, el exceso de confianza y el sesgo retrospectivo.

Reconocer estas trampas en la toma de decisiones desplaza el enfoque de culpar a las personas hacia fortalecer los entornos de decisión.

8. La evolución cultural como capacidad a largo plazo

Una cultura de seguridad sostenible requiere integración en lugar de reinvención, desarrollo estructurado de capacidades en lugar de programas puntuales y medición del impacto conductual en lugar de métricas de actividad.

Las organizaciones que tienen éxito:

• Integran la seguridad en los sistemas existentes de liderazgo y operación

• Diseñan itinerarios de aprendizaje que apoyan la aplicación en el día a día

• Miden el cambio de comportamiento y los resultados operativos

• Refuerzan el progreso de manera consistente en el tiempo

La evolución cultural es un compromiso sostenido con la alineación del sistema y el desarrollo de capacidades.

Conclusión

La evolución de la cultura de seguridad trata menos de añadir controles y más de fortalecer sistemas.

La seguridad es algo que las organizaciones producen: a través de la claridad del liderazgo, el diseño operativo, la seguridad psicológica y el aprendizaje continuo.

Quienes integren estas capacidades de forma consistente no solo reducirán riesgos. Construirán organizaciones más resilientes, sostenibles y de alto desempeño.

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Sources & references:

• WorldSteel Association. Safety Culture & Leadership Fundamentals.
• Norsk Industri (2025). Safety Leadership and Learning: A Practical Guide to HOP.
• D. Parker et al. / Safety Science 44 (2006). Development of Organisational Safety Culture

• Hollnagel, E. (2014). Safety-I and Safety-II: The Past and Future of Safety Management.
• Hollnagel, E. (2018). Safety-II in Practice: Developing the Resilience Potentials.
• Conklin, T. (2012). Pre-Accident Investigations: An Introduction to Organizational Safety.
• Edmondson, A. (2018). The Fearless Organizations
• Reason, J. (1997). Managing the Risks of Organizational Accidents.

• Resilience Engineering research (Hollnagel,Woods, Leveson and others).

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Across industries, safety is undergoing a structural shift. What was once managed primarily as a compliance function or performance metricis increasingly understood as a reflection of how organizations are designed, led and continuously improved.

In complex and high-risk environments, safety is notachieved through stronger enforcement or additional programs alone. It emerges from the interaction between leadership behavior, operational design, decision environments and the organization’s capacity to learn and adapt.

Drawing on global safety science, Human & Organizational Performance (HOP), research on psychological safety, and our cross-industry transformation experience, eight key shifts are shaping the next evolution of safety culture.

1. Safety as a Core Organizational Value

Safety is moving beyond being treated as a shifting priority. Priorities compete. Values guide.

When safety becomes a core organizational value, it shapes decision-making, trade-offs under pressure, operational planning and resourceallocation. Safety becomes the natural consequence of how the system operates,rather than a campaign layered on top of production.

This shift also redefines the role of safety functions, from compliance policing to enabling safe and sustainable performance.

2. Learning as an Operating Discipline

Organizations are embedding continuous learning into everyday operations. Rather than focusing only on what failed, they exploreweak signals, near misses, operational friction and successful adaptations.

Learning becomes a core capability, accelerating insight, strengthening resilience and improving decision quality.

3. Leadership Ownership at All Levels

Safety culture is increasingly recognized as a leadership capability, not solely an HSE responsibility.

Executives define direction and tone.
Middle managers translate expectations into operational decisions.
Supervisors shape the daily decision environment.

Successful organizations translate safety expectations into concrete leadership behaviors and daily routines, creating clarity and alignment across levels.

4. Psychological Safety as Infrastructure

A strong safety culture depends on speaking-up environments.

When employees feel psychologically safe, weak signals surface earlier, risk trade-offs are openly discussed and learning accelerates.

Psychological safety is operational infrastructure , not a soft topic.

5. Amplifying What Works

There is growing recognition that most work is completed safely, often under variable conditions.

Studying success reveals adaptive capacity and strengthens resilience. This complements traditional incident analysis by reinforcing expertise and confidence.

6. Aligning Work-as-Imagined and Work-as-Done

Procedures and plans rarely capture operational complexity perfectly.

Leading organizations reduce the gap between policies and operational reality by inviting front line input and empowering stop-work authority.

The goal is better alignment between design and execution.

7. Designing for Human Decision-Making

Incidents often stem from predictable cognitive biases such as normalization of deviance, production bias, overconfidence and hindsight bias.

Recognizing these decision traps shifts focus from blaming individuals to strengthening decision environments.

8. Cultural Evolution as a Long-Term Capability

Sustainable safety culture requires integration rather than reinvention, structured capability journeys rather than one-off programs, and measurable behavioral impact rather than activity metrics.

Organizations that succeed:

• Integrate safety into existing leadership and operational systems
• Design earning journeys that support day-to-day application
• Measure behavioral change and operational outcomes
• Reinforce progress consistently over time

Cultural evolution is a sustained commitment to system alignment and capability building.

Conclusion

The evolution of safety culture is less about adding controls and more about strengthening systems.

Safety is something organizations produce — through leadership clarity, operational design, psychological safety and continuous learning.

Those who embed these capabilities consistently will not only reduce risk. They will build more resilient, sustainable and high-performing organizations.

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Sources & references:

• WorldSteel Association. Safety Culture & Leadership Fundamentals.
• Norsk Industri (2025). Safety Leadership and Learning: A Practical Guide to HOP.
• D. Parker et al. / Safety Science 44 (2006). Development of Organisational Safety Culture

• Hollnagel, E. (2014). Safety-I and Safety-II: The Past and Future of Safety Management.
• Hollnagel, E. (2018). Safety-II in Practice: Developing the Resilience Potentials.
• Conklin, T. (2012). Pre-Accident Investigations: An Introduction to Organizational Safety.
• Edmondson, A. (2018). The Fearless Organizations
• Reason, J. (1997). Managing the Risks of Organizational Accidents.

• Resilience Engineering research (Hollnagel,Woods, Leveson and others).

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Most sales meetings don’t fail.
They just don’t lead to a decision.

And that’s where value is lost.

Today’s customers are more informed, more selective, and more time-poor.

They don’t need more product pitches.
They need conversations that help them prioritize, decide, and move forward.

And yet, 58% of sales meetings fail to create real value.

Not because sellers lack capability, but because conversations are not designed to move decisions forward.

“Customers don’t act on every need they recognize.

They act when something becomes a priority.”

 In this short executive brief, you’ll discover:

• Why most conversations inform… but don’t drive action
• What actually makes customers prioritize and move
• How to create urgency without damaging trust
• The shift from presenting solutions to enabling decisions
• What separates conversations that stall from those that accelerate momentum

If your teams are experiencing stalled deals, delayed decisions, or slow pipeline movement, this brief will help you understand why, and what to do differently.

Download the Executive Brief and learn how to design conversations that actually move decisions forward

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