Quantuma advises Invenia Group on its sale to XT Group

Quantuma has secured the future of Leeds-based Invenia Group Limited in a sale to XT Group Limited. 

Managing directors Rehan Ahmed and Tauseef A Rashid were appointed as joint administrators of Invenie Group Limited on 14 February and completed the sale of the business and assets shortly thereafter to Essex-based company XT Group Limited, a recruitment company. 

Global search firm Invenia Group operates from a single site in Leeds and specialises in middle-to-executive level talent acquisitions for firms at the intersection of life sciences and technology. 

The sale provides clarity and job security for 21 members of staff with all employees being transferred to the purchaser under TUPE regulations. 

Established in 2009, Invenia Group reported a turnover of £3.5m in 2023 but, due to a series of challenging circumstances, the business entered into a Company Voluntary Agreement (CVA) on 3 July 2024. However, since the recent UK election and budget, the recruitment market has been negatively impacted to the extent that the projected turnover was less than 50% of previous forecasts.

The CVA was ultimately not viable and failed and the company was obligated to enter administration. 

Ahmed said: “I am very pleased to have achieved such a positive outcome for this well-established business. We are delighted to have secured the long-term viability of the Invenia Group, ensuring that all employees’ jobs have been saved and allowing the business to continue its journey following this sale to XT Group Limited.”