Christie Group PLC Landmark Dental partnership for Christie & Co
25 Setembro 2023 - 11:43AM
RNS Non-Regulatory
TIDMCTG
Christie Group PLC
25 September 2023
25 September 2023
Christie Group plc
("Christie Group" or the "Company")
Landmark Dental partnership announced by Christie & Co
Christie Group plc (CTG.L) is pleased to report that its agency
and advisory business, Christie & Co, has announced a landmark
partnership between North East-based dental business, Queensway
Group and Dentex.
Queensway Group has meticulously expanded and grown since being
founded in 1994 when Paul Averley, a graduate dentist from
Newcastle University, set up his first practice in Billingham. The
business has grown to become a dominant force in UK dentistry, with
40 surgeries across eight locations in the North East of
England.
The Queensway Partners engaged Christie & Co to find a
strategic investment partner to accelerate the growth of the
business, with the expansion of the group's footprint,
capabilities, and ongoing service provision to patients,
clinicians, and colleagues - a partnership with dental corporate,
Dentex, has supported this objective.
The Queensway Group and Dentex transaction was completed for an
undisclosed price.
Paul Graham, Head of Dental at Christie & Co, comments,
"Queensway Group, incorporating dental, orthodontics, skin clinic,
and laboratory - this cluster of practices rooted from humble
foundations in the North East of England - is, by far, one of the
most impressive dental organisations that we've seen in the UK.
"Dentistry is currently one of the post-pandemic growth sectors,
and so, when we launched the sale process, we knew lots of interest
would prevail - between private equity (PE) houses and existing
trade buyers, we had upwards of 30 parties vying for the
opportunity. The landscape then suddenly changed with the UK having
to deal with the economic and geopolitical challenges that were
orbiting. However, testament to the strength of Queensway, the
competitive and strategic process that we conducted, and of course
with Dentex as their new partner, the outcome delivered did not
faulter. This landmark transaction contradicts some of the negative
rhetoric around M&A activity in the sector and underpins the
strength and resilience of the UK dental market, with demand still
strong for quality dental businesses which are accurately priced.
"
Enquiries:
Christie Group plc
Daniel Prickett
Chief Executive 07885 813 101
Paul Graham
Head of Dental, Christie & Co 07739 876 621
Shore Capital
Patrick Castle / Iain Sexton
Nominated Advisor and Broker 020 7408 4090
Notes to Editors:
Christie Group plc, quoted on AIM, is a leading professional
business services group with 38 offices across the UK and Europe,
catering to its specialist markets in the hospitality, leisure,
healthcare, medical, childcare & education and retail
sectors.
Christie Group operates in two complementary business divisions:
Professional & Financial Services (PFS) and Stock &
Inventory Systems & Services (SISS). These divisions trade
under the brand names: PFS - Christie & Co, Pinders, Christie
Finance and Christie Insurance: SISS - Orridge, Venners and
Vennersys.
Tracing its origins back to 1846, the Group has a
long-established reputation for offering valued services to client
companies in agency, valuation services, investment, consultancy,
project management, multi-functional trading systems and online
ticketing services, stock audit and inventory management. The
diversity of these services provides a natural balance to the
Group's core agency business.
For more information, please go to www.christiegroup.com
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