TIDMPGH
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
GBP0.9m (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 GBP750k and GBP200k 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 +44 (0)20 3405 0205
/ Joe Pederzolli 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
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END
ACQBKKBDPBKDQAN
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