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."

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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