Health and wellbeing benefits provider Vivup and global benefits and reward platform Perkbox have announced an agreement to combine.
A strategic majority investment from Great Hill Partners will help the newly combined organisation scale its go-to-market capabilities, innovate product offerings, and accelerate organic and inorganic growth opportunities.
Omni Partners (“Omni”), a lower mid-market focused investor in UK private companies, invested in Vivup in 2022 and will retain a minority stake to continue supporting the combined company’s growth. The agreed transaction is subject to Financial Conduct Authority (FCA) authorisation.
Commenting on the announcement on LinkedIn, Vivup’s CEO, Simon Moyle said:
“I am beyond excited and happy to be able to share this with the world. The journey to date has been incredible, from family ran 17 people five and a half years ago when I started to an MBO backed by Omni Partners LLP 15 months ago to this, phase three and the creation of what will be the biggest and best employee benefits and wellbeing business”
“I can’t wait to see where we go from here, I am so proud to be trusted to lead the combined business and welcome all our new colleagues to the team once we have FCA approval”.
Fueling international growth and innovation
Working together, Vivup and Perkbox will support over 4 million employees across almost 7,500 organisations. This includes over 85% of the UK’s National Health Service (NHS).
The aim for the newly integrated proposition is that it will enable the support of more organisations and their employees across Europe and APAC.
Vivup brings a strong heritage and expertise of working with the public sector providing wellbeing, family care, and product expertise in Salary Sacrifice Benefits. Perkbox, through its expertise in Employee Discount Schemes and Reward and Recognition technology, enables organisations to motivate and financially support their employees.
This investment from Great Hill Partners has also supported Vivup in their acquisition of The Employee Resilience Company (specialists in counselling, psychotherapy, and employee assistance provision), and Work&Life Partners (specialists in childcare, eldercare and petcare).
Day-to-day executive leadership will remain consistent across the combined businesses with Vivup CEO Simon Moyle serving as the newly formed company’s Group CEO, and Perkbox CEO Doug Butler serving as Group executive chairman.
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