Asperity Employee Benefits has been acquired by private equity investor in a £25.5m buy-out deal.
The move will enable Asperity to accelerate its plans to expand into international markets, which have been spurred on by clients’ cross-border demands.
Glenn Elliott, founder and managing director of Asperity Employee Benefits, said: “Everyone at Asperity is tremendously excited about securing this deal. We have made some outstanding achievements since Asperity started, and Inflexion’s investment will provide us with the financial and business muscle that will help us to continue to shape employee benefits markets throughout the world over the next few years.†
“We have conducted a comprehensive search for the right partner to help develop internationally and the team at Inflexion has demonstrated fantastic experience and a great track record that we are really keen to be part of.”
John Hartz, managing partner of Inflexion Private Equity added: “Asperity is an excellent example of the type of business Inflexion seeks to invest in: a leader in a niche market which delivers superior service to its customers, is growing significantly and has a dynamic management team who are ambitious for its future.”
Read more on voluntary benefits schemes and providers†