Benefex – number three in our Solent SME 100 Growth Index – and owner of the market-leading employee experience platform OneHub, has announced that Bain Capital Private Equity will invest in the company. As part of the transaction, BGF, which has backed Benefex since 2011, will exit its minority stake.
With BGF’s investment, the Southampton-based company has globally expanded its client base and product portfolio. In 2015, it was recognised in the London Stock Exchange’s 1000 Companies to Inspire Britain. The current management team will remain, with founder & CEO Matt Macri-Waller continuing both as shareholder and CEO, leading the company on its future growth journey.
“We are excited to partner with Bain Capital to accelerate our growth, whilst ensuring we remain focused on delivering exceptional employee experiences for our customers,” said Macri-Waller. “The deep technology expertise and global resources make Bain Capital the ideal partner to drive our next stage of development. For our customers and partners its business as usual; the investment enables us to continue driving innovation and building out OneHub to deliver measurable value and solve ever more challenges for our customers.”
“This is an important additional step in Bain Capital’s investments in the HR technology sector,” said Christophe Jacobs, a managing director at Bain Capital Private Equity. “We are truly impressed by the product and the company Matt and his team has built. The strong customer benefits of the Benefex solution and the overwhelmingly positive feedback from existing customers make this a company where we see high potential for future growth. We are very excited to partner with Matt and his team to take Benefex to its next level.”
The proposed transaction is subject to customary closing conditions, including FCA regulatory approvals, and is expected to complete in autumn 2018. The financial terms of the proposed transaction have not been disclosed.
Benefex is the company behind OneHub, the award-winning employee experience platform. Supporting nearly 1 million employees in 150 global organisations across 30 countries, Benefex’s OneHub platform is transforming how people experience work every day.
Customers include AstraZeneca, Bank of America, BT, Centrica, Deliveroo, E.ON, Just Eat, Liberty Global, M&S, Philips, Skyscanner and Worldpay.