Personal Group acquires Quintige Consulting for £900,000

Workforce benefits and services provider Personal Group has acquired employee experience and reward consultancy Quintige Consulting Group for £900,000.

Personal Group said on Friday that the acquisition will add scale to its existing pay and reward capability, helping to consolidate its position as "a leading provider of employee services in the UK".

The AIM-listed group highlighted that following completion, the enlarged group will benefit from an expanded customer base - including clients in key target industries such as the public and not-for-profit sectors, allowing for further cross-selling opportunities.

Personal added that the acquisition was expected to be immediately earnings accretive.

For the year ended 31 May, QCG generated unaudited revenues and underlying earnings of approximately £750,000 and £200,000, respectively.

Chief executive Deborah Frost said: "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."

As of 0835 BST, Personal shares were up 0.82% at 269.70p.

Reporting by Iain Gilbert at Sharecast.com