REG - Personal Group - Acquisition of Quintige Consulting Group Limited

Personal groupAnnouncement

01/07/2022 07:00

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RNS Number : 8947Q  Personal Group Holdings PLC  01 July 2022

      1(st) 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                          +44 (0)1908 605 000

 Cenkos Securities Plc
 Camilla Hume / Callum Davidson (Nominated Adviser)  +44 (0)20 7397 8900
 Russell Kerr (Sales)

 Alma PR
 Susie Hudson / Lily Soares Smith / Joe Pederzolli   +44 (0)20 3405 0205

                                                     personalgroup@almapr.co.uk

 

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
(http://www.personalgroup.com)

 

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