PE Deals

The Vistria Group invests in HSA administration services provider Flores

As part of the transaction, Century Equity Partners and The Vistria Group will each hold equal ownership in Flores.

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  • This transaction represents the ninth investment from Vistria Fund IV, a $2.68 billion fund
  • William Blair acted as financial advisor to Flores while Waller Helms and Piper Sandler & Co. served as financial advisors to The Vistria Group
  • The Vistria Group has over $8 billion in assets under management

The Vistria Group announced has made an investment in Charlotte, North Carolina-based Flores, a provider of benefit technology solutions and administrative services to employers throughout the United States.

As part of the transaction, Century Equity Partners and The Vistria Group will each hold equal ownership in Flores and continue to back the current management team, led by Gary Trainor and Jody Oliver. This transaction represents the ninth investment from Vistria Fund IV, a $2.68 billion fund, and the second financial services investment this year, following The Vistria Group’s investment in The Mather Group six months ago.

“We are excited to work with Jody, Gary, Century and the rest of the Flores team. We have been impressed by the platform’s proven history of strong organic growth, driven by their high-quality service and flexible, customizable technology. We look forward to partnering with them for their next phase of growth,” says Boris Rapoport, a partner and co-head of financial services at The Vistria Group, in a statement.

William Blair acted as financial advisor to Flores & Associates on the transaction. Waller Helms and Piper Sandler & Co. served as financial advisors to The Vistria Group. Winston & Strawn LLP acted as legal counsel to The Vistria Group; Foley and Lardner LLP acted as legal counsel to Flores & Associates and Century Equity Partners.

Century Equity Partners focuses primarily on making private equity investments to support the recapitalization and growth of lower middle market companies that provide services, distribution, and solutions to the financial services industry.

The Vistria Group has over $8 billion in assets under management.