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.”

In the TV clip below Deborah Frost, Personal Group’s Chief Executive pinpoints the major operational and financial highlights from the period. She also provides some details on the the group’s strategy going forwards.