Acquisition of Quintige Consulting Group Limited

RNS Number : 8947Q

Personal Group Holdings PLC

01 July 2022

 

1st July 2022

Personal Group Holdings Plc

("the Company", "Personal Group" or "Group")

Acquisition of Quintige Consulting Group Limited

Strengthening our position in employee experience, pay and reward

Personal Group Holdings Plc (AIM: PGH), the workforce benefits and services provider, is pleased to announce the acquisition of Quintige Consulting Group Limited ("QCG"), a leading employee experience and reward consultancy, for a cash consideration of £0.9m (the "Acquisition").

QCG was founded in 2000 and has become a leading HR consultancy business supporting a wide range of public and private sector organisations. It provides consultancy regarding employee experience, reward and recognition and has a strong pay benchmarking survey practice. Its clients include the British Transport Police, the Confederation of British Industry, Ofcom, The Southbank Centre, Siemens and Yoox Net-a-Porter Group.

The Acquisition will add scale to the Group's existing pay and reward capability, helping to consolidate its position as a leading provider of employee services in the UK. Following completion of the Acquisition, the enlarged Group will benefit from an expanded customer base. This includes clients in key target industries such as the public and not-for-profit sectors, allowing for further cross-selling opportunities across the Group. QCG's pay survey capability represents an exciting new addition to Personal Group's range of service offerings, and QCG's clients are expected to benefit significantly from access to the Group's digital pay and reward platforms through Innecto as well as the Group's proprietary employee experience software platform, Hapi. In addition, the Group will benefit from a number of very experienced consultants joining the Group from QCG.

For the year ended 31 May 2022, QCG generated revenue and EBITDA (both unaudited) of approximately £750k and £200k respectively with the Acquisition expected to be immediately earnings accretive.

QCG will work alongside Innecto but continue to be run largely as a separate entity, with its results incorporated into the Group's Pay & Reward segment.

Deborah Frost, CEO of Personal Group, commented:

"The Board and I are delighted to be welcoming the QCG team into our group with this acquisition. QCG has built a fantastic position over the last 22 years, and now delivers high quality consultancy to over 60 clients each year. Talent shortages continue to drive the growth of the employee experience and reward market and we believe, that as part of Personal Group, QCG has a clear opportunity to drive further sales growth going forward.  We look forward to learning from each other and benefitting from our increased resource base and cross-selling opportunities.

QCG shares similar values to ourselves, and together we will move further towards our vision: A winning team creating a brighter future for the UK workforce, supporting over 1.5m employees by 2025. Enhancing our consultancy offering strengthens our position as one of the only bespoke benefits providers to UK-based companies with a sophisticated full-service offer. With our market-beating range of products, and increasing scale, we are truly becoming the obvious choice for clients looking to support and incentivise their workforces."

-ENDS-

For more information please contact:

Personal Group Holdings Plc
Deborah Frost / Sarah Mace	[phone]
Cenkos Securities Plc
Camilla Hume / Callum Davidson (Nominated Adviser)	[phone]
Russell Kerr (Sales)
Alma PR
Susie Hudson / Lily Soares Smith / Joe Pederzolli	[phone] [e-mail]

Notes to Editors

Personal Group Holdings Plc (AIM: PGH) is a workforce benefits and services provider. The Group enables employers across the UK to improve employee engagement and support their people's physical, mental, social and financial wellbeing. Its vision is to create a brighter future for the UK workforce.

Personal Group provides health insurance services and a broad range of employee benefits, engagement, and wellbeing products. Its offerings can also be delivered through its proprietary app, Hapi, and the recently developed extension to the platform, Hapiflex.

The Group's growth strategy is centred around widening the footprint of the business into the SME, talent-led & Public Sectors, thereby expanding the addressable customer base. In addition, it aims to grow in its existing industrial heartlands, to re-invigorate growth in insurance policyholders and to drive the use of its SaaS offerings.

Clients include: Arsenal FC, Barchester Healthcare, Merseyrail, Randstad, Royal Mail Group, The Royal Mint, the Sandwell & Birmingham NHS Trust, Stagecoach Group plc, and The University of York. 34% of clients are served by two or more group companies.

For further information on the Group please see www.personalgroup.com

 

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