RCS - Christie Group PLC - Landmark Dental partnership for Christie & Co

ChristieAnnouncement

25/09/2023 15:45

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RNS Number : 5711N  Christie Group PLC  25 September 2023

25 September 2023

 

Christie Group plc

("Christie Group" or the "Company")

 

Landmark Dental partnership announced by Christie & Co

 

Christie Group plc (CTG.L) is pleased to report that its agency and advisory
business, Christie & Co, has announced a landmark partnership between
North East-based dental business, Queensway Group and Dentex.

 

Queensway Group has meticulously expanded and grown since being founded in
1994 when Paul Averley, a graduate dentist from Newcastle University, set up
his first practice in Billingham. The business has grown to become a dominant
force in UK dentistry, with 40 surgeries across eight locations in the North
East of England.

The Queensway Partners engaged Christie & Co to find a strategic
investment partner to accelerate the growth of the business, with the
expansion of the group's footprint, capabilities, and ongoing service
provision to patients, clinicians, and colleagues - a partnership with dental
corporate, Dentex, has supported this objective.

 

The Queensway Group and Dentex transaction was completed for an undisclosed
price.

 

Paul Graham, Head of Dental at Christie & Co, comments, "Queensway Group,
incorporating dental, orthodontics, skin clinic, and laboratory - this cluster
of practices rooted from humble foundations in the North East of England - is,
by far, one of the most impressive dental organisations that we've seen in the
UK.

"Dentistry is currently one of the post-pandemic growth sectors, and so, when
we launched the sale process, we knew lots of interest would prevail - between
private equity (PE) houses and existing trade buyers, we had upwards of 30
parties vying for the opportunity. The landscape then suddenly changed with
the UK having to deal with the economic and geopolitical challenges that were
orbiting. However, testament to the strength of Queensway, the competitive and
strategic process that we conducted, and of course with Dentex as their new
partner, the outcome delivered did not faulter. This landmark transaction
contradicts some of the negative rhetoric around M&A activity in the
sector and underpins the strength and resilience of the UK dental market, with
demand still strong for quality dental businesses which are accurately
priced."

 

Enquiries:

 

 Christie Group plc
 Daniel Prickett                     07885 813 101

 Chief Executive

 Paul Graham                         07739 876 621

 Head of Dental, Christie & Co

 Shore Capital                       020 7408 4090

 Patrick Castle / Iain Sexton

 Nominated Advisor and Broker

 

Notes to Editors:

Christie Group plc, quoted on AIM, is a leading professional business services
group with 38 offices across the UK and Europe, catering to its specialist
markets in the hospitality, leisure, healthcare, medical, childcare &
education and retail sectors.

 

Christie Group operates in two complementary business divisions: Professional
& Financial Services (PFS) and Stock & Inventory Systems &
Services (SISS). These divisions trade under the brand names: PFS - Christie
& Co, Pinders, Christie Finance and Christie Insurance: SISS - Orridge,
Venners and Vennersys.

 

Tracing its origins back to 1846, the Group has a long-established reputation
for offering valued services to client companies in agency, valuation
services, investment, consultancy, project management, multi-functional
trading systems and online ticketing services, stock audit and inventory
management. The diversity of these services provides a natural balance to the
Group's core agency business.

 

For more information, please go to www.christiegroup.com
(https://url.avanan.click/v2/___http:/www.christiegroup.com___.YXAxZTpzaG9yZWNhcDphOm86NGUzOGQ4MjJhZjYxNzIxY2MzNTA0MmFlMzEwZWQwNGQ6NjowZjc5OmM5NzEzZDJkZDAyMDNhMzQ1NzJhMzQzZTExYTYxM2UyYmZmOTMwMTYyZTAyMjMyNGM0MmQ1YTM1OGJjNWQyZTY6cDpU)

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