Benify

June 2011

BUYER

Vitruvian Partners is a UK based private equity firm with in excess of GBP 2 billion under management. Vitruvian has a long track record of successful growth capital investments alongside strong entrepreneurs. Flexpay becomes Vitruvian’s first investment in the Swedish market.

TARGET

Benify (Flexpay) is the leading independent provider of web-based Total Compensation Management (“TCM”) 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. The company, founded in 2004, is based in Stockholm with sales offices in e.g. the Netherlands and Finland.

SELLER

Private sellers (founders made a substantial reinvestment alongside Vitruvian Partners).

TRANSACTION

A structured auction process.