Platform Partners LLC has acquired Beneplace, a provider of voluntary employee benefits and employee discount programs. No financial terms were disclosed. Focus Strategies LLC served as financial adviser to Beneplace on the transaction while Hogan Lovells LLP provided legal counsel.
AUSTIN, Texas, April 18, 2017 /PRNewswire/ — Platform Partners LLC (“Platform”), a private company headquartered in Houston, announced that it completed the acquisition of Beneplace, LLC (“Beneplace”), a leading marketer and distributor of voluntary employee benefits and employee discount programs serving Fortune 1000 companies, large associations and government agencies.
Founded in 1995, Beneplace is one of the fastest-growing voluntary benefit companies and currently serves employers and institutions in the U.S., Canada, Latin America, Europe, Australia and Asia. Along with a comprehensive voluntary benefits offering that includes auto and home, critical illness, dental, disability, group legal, long-term care, and other voluntary benefits, Beneplace offers an employee discount platform for well-known products and services such as consumer electronics, vacations, automobiles, tax preparation and many others. Beneplace offers its products and services to over nine million employees across multiple industry sectors.
“Beneplace has been a pioneer in voluntary benefits and employee discount products programs,” said Fred Brazelton, President & CEO of Platform. “We look forward to partnering with the entire management team to continue developing innovative solutions for employers focused on providing valuable savings to their employees.”
“”Beneplace’s management team, led by President Rusty Stein, will continue to manage the business. “We have built an unmatched suite of products and services for large employers and government agencies and are confident that Platform’s expertise will help our business continue to grow and thrive,” said Stein.
In addition to Platform and the management team, Galtney Partners LP, led by Will Galtney, a successful owner and investor in numerous insurance and healthcare companies, invested alongside Platform.
Focus Strategies, LLC acted as financial advisor to Beneplace and Hogan Lovells LLP acted as legal counsel in connection with the transaction.
About Beneplace, LLC
Beneplace, LLC is one of the fastest-growing voluntary benefits companies in the industry, managing customized voluntary benefits and discount programs for Fortune 1000 companies and government institutions. Beneplace is available to nine million people among employers and institutions in the U.S., Canada, Latin America, Europe, Australia and Asia. Headquartered in Austin, Beneplace delivers carefully curated, intelligent and complete voluntary solutions and employee discount programs that meet their customers’ specific goals. Beneplace knows that growing employee acquisition, retention and satisfaction is the ultimate goal of any HR team, and they’re committed to providing the solutions, services and support to exceed this goal—all while keeping things simple for the customer’s HR team. For more information, visit www.beneplace.com.
About Platform Partners LLC
Platform Partners LLC is a private company based in Houston that makes investments in middle-market companies with the intent of growing these businesses into industry leaders through a combination of organic and acquisition growth. For more information about Platform Partners, please visit www.platformllc.com.