Benefex announces investment from Bain Capital Private Equity
14th August 2018, Southampton, UK – Benefex Holdings Limited ("Benefex”), owner of the market leading employee experience platform OneHub, today announces that Bain Capital Private Equity (“Bain Capital”) has signed a definitive agreement for an investment in Benefex. As part of the transaction, BGF, which has backed Benefex since 2011, will exit its minority stake.
With BGF’s investment, the 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 of Benefex 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 it's 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.
Our platform enables customers to design, manage and deliver meaningful employee experiences, from benefits and communications to recognition and wellbeing. The outcome is a truly exceptional experience for employees.
Benefex has won over 50 awards for delivering consumer-grade employee experiences to global organisations including AstraZeneca, Bank of America, BT, Centrica, Deliveroo, E.ON, Just Eat, Liberty Global, Philips, Skyscanner and Worldpay.
OneHub – where employee experience lives, every day
To share in the experience, visit us online at: www.hellobenefex.com
About Bain Capital Private Equity
Bain Capital Private Equity has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity’s global team of approximately 220 investment professionals creates value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare, consumer/retail, financial and business services, industrials, and technology, media and telecommunications. Bain Capital Private Equity has offices in Boston, New York, London, Munich, Mumbai, Hong Kong, Shanghai, Sydney, Tokyo, Seoul and Luxembourg and has made investments in more than 300 companies to date. In addition to private equity, Bain Capital invests across asset classes including credit, public equity and venture capital, managing approximately USD 95 billion in total and leveraging the firm’s shared platform to capture opportunities in strategic areas of focus.