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Milton Keynes-based employee benefits & services provider Personal Group Holdings PLC on Friday said it has bought Quintige Consulting Group Ltd for £900,000.
Quintige is a HR consultancy business supporting both public and private sector organisations. Its clients include the British Transport Police, the Confederation of British Industry, Ofcom, the Southbank Centre, Siemens AG and Yoox Net-a-Porter Group.
Personal Group said that the acquisition will add scale to the company's existing pay and reward capability, helping to consolidate its position as ‘a leading provider of employee services in the UK.’
The company added that the enlarged group will benefit from an expanded customer base, allowing for further cross-selling opportunities.
Quintige generated £750,000 revenue in the year ended May 31 and earnings before income, tax, depreciation and amortisation of £200,000.
Personal Group expects the acquisition to be immediately earnings accretive.
Quintige will continue to run largely as a separate entity, with its results incorporated into Personal Group's Pay & Reward segment, it added.
Chief Executive Deborah Frost said: ‘Quintige 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, Quintige has a clear opportunity to drive further sales growth going forward.’
Shares in Personal Group were untraded at 267.50 pence each in London on Friday morning.
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