M&A Deal Summary

Zellis Acquires Benify

On September 3, 2024, Zellis acquired internet software and services company Benify from Vitruvian Partners

Acquisition Highlights
  • This is Zellis’ 1st transaction in the Internet Software and Services sector.
  • This is Zellis’ 1st transaction in Sweden.

M&A Deal Summary
Date 2024-09-03
Target Benify
Sector Internet Software and Services
Buyer(s) Zellis
Sellers(s) Vitruvian Partners
Deal Type Add-on Acquisition

Target

Benify

Stockholm, Sweden
Benify is a provider of web-based total compensation management software and services to the Nordic market. The platform enables companies to communicate the full value of compensation and benefits to their employees, whilst at the same time simplifying and automating much of the associated administration by connecting directly into the systems of a broad range of benefits suppliers. Benify was formed in 2004 and is based in Stockholm, Sweden.

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Buyer(S) 1

Buyer

Zellis

Bristol, United Kingdom
Category Company
Sector Software
DESCRIPTION

Zellis provides payroll, HR, and managed services to UK and Ireland-based companies with over 500 employees. Zellis is based in Bristol, United Kingdom.

DEAL STATS #
Overall 1 of 1
Sector (Internet Software and Services) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (Sweden) 1 of 1
Year (2024) 1 of 1

Seller(S) 1

SELLER

Vitruvian Partners

London, United Kingdom
Category Private Equity Firm
Founded 2006
PE ASSETS 8.5B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Vitruvian Partners is an independent private equity firm that specializes in middle-market buyouts, growth buyouts and growth capital investments in the UK and elsewhere in Northern Europe. Vitruvian looks for companies that are 'operating in dynamic situations, where there is an opportunity to build strategic value'. The Group's target investment size is £25 to £150 million in transactions valued up to £500 million. Sectors of interest include business services, consumer services, financial services, life science, healthcare services, media, technology, communications, and internet software. Vitruvian Partners was formed in 2006 and is based in London.

DEAL STATS #
Overall 22 of 22
Sector (Internet Software and Services) 6 of 6
Type (Add-on Acquisition) 9 of 9
Country (Sweden) 3 of 3
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-20 Redarbor

Barcelona, Spain

Redarbor is a HR tech group in Latin America and the second largest group of job ads in the world, with a presence in more than 20 countries. Redarbor operates the websites Computrabajo and Infojobs Brazil, along with the human resources software for talent acquisition and management, Pandapé. Redarbor was founded in 2013 and is based in Barcelona, Spain.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-16 Options

London, United Kingdom

Options provides outsourced financial technology and managed IT services to the global capital markets. Its clients include the leading global investment banks, hedge funds, funds of funds, proprietary trading firms, market makers, broker/dealers, private equity houses, and exchanges. Options was founded in 1993 and is based in London, United Kingdom.

Buy -
Mergr

Product

Company

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