Health and wellbeing company Vivup is merging with benefits and reward platform Perkbox.
Together the two companies support over 4m employees across 7,500 public and private sector organisations.This includes providing services for 85 per cent of the NHS.
The companies will combine their complementary services — which cover employee wellbeing, voluntary benefits, salary sacrifice, engagement and recognition and reward solutions — to deliver a more comprehensive employee benefits proposition.
Vivup CEO Simon Moyle will take on the role of group CEO, with Perkbox CEO Doug Butler serving as group executive chairman.
The merger is being supported with investment from Great Hill Partners, a private equity firm that invests in high-growth, disruptive companies. This investment will help the merged organisation scale its capabilities, innovate product offerings, and accelerate organic and inorganic growth opportunities.
Omni Partners, a lower mid-market focused investor in UK private companies, invested in Vivup in 2022 and will retain a minority stake to continue supporting the combined company’s growth.
The agreed transaction is subject to Financial Conduct Authority authorisation.
Vivup started in 2005, and offers a range of health and wellbeing benefits to employees across the public and private sectors. It partners with almost 4,000 clients and supports 3.3 million plus employees throughout the UK.
Perkbox is a global benefits and rewards platform, that offers a range of services and products designed to help firms “care for and connect with” employees. This includes employee discount schemes and reward and recognition technology that enables organisations to better motivate and financially support their staff.
Moyle says: “Pending FCA approval, we will be in the best possible position to support people and organisations across the UK.“
Between [the two companies] we have the leading products needed across voluntary benefits, wellbeing and recognition and reward, yet very little overlap in the areas in which we currently operate.”
Moyle adds that when he joined Vivup, just over five years ago, the team consisted of 17 people. Since then the firm has expanded and now support a workforce of 400 people. This will grow to 500 with the addition of Perkbox colleagues.
Butler adds that by combing resources, complementary technology, services offerings and additional investment the two companies “will be better placed to support thousands of clients and the millions of employee users who rely on our solutions to meet their needs and challenges”.
Great Hill managing director Drew Loucks adds: “[This] creates a new industry player that is well-positioned to capitalise on a large and growing market opportunity.
“[Moyle and Butler] both have strong track records of scaling industry-leading businesses by creating successful, client-centric cultures and innovative product offerings. We are excited to support the teams and bring Vivup and Perkbox together to deliver a more powerful employee wellbeing, benefits and engagement platform in the UK.”
