Vivup and Perkbox to Combine, Creating a World-Class, All-in-One Employee Wellbeing, Benefits and Engagement Platform

LONDON — (March 15, 2024) — Today, Vivup, a leading provider of world-class health and wellbeing benefits, and Perkbox, an award-winning global benefits and reward platform, announced an agreement to combine and a strategic majority investment from Great Hill Partners, a growth equity firm that invests in high-growth, disruptive companies. This brings together combined strengths with the goal of offering a truly market leading solution for the UK’s public and private employee benefits sectors. Great Hill Partners’ investment will help the newly strengthened organisation scale its go-to-market capabilities, innovate product offerings, and accelerate organic and inorganic growth opportunities. Omni Partners (“Omni”), 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 (FCA) authorisation.

Vivup and Perkbox are powered by a global team of professionals, together supporting over 4 million employees across almost 7,500 organisations. This includes over 85% of the UK’s National Health Service (NHS), helping improve the lives of its people via leading employee wellbeing, benefits, engagement, and recognition & reward solutions. Powered by complementary expertise, this newly integrated proposition of world class products will be instrumental in supporting more organisations and their employees across Europe and APAC. Vivup brings a strong heritage and expertise of working with the public sector providing leading wellbeing, family care, and product expertise in Salary Sacrifice Benefits, giving employers tools to connect their workforce and help their people thrive. Perkbox is a leader in Employee Discount Schemes and Reward and Recognition technology that enables organisations to better motivate and financially support their employees. Vivup and Perkbox brings together two like minded organisations with an aligned mission and set of values that will help employers to better care for, connect with and celebrate their employees.

Day-to-day executive leadership will remain consistent across the combined businesses with Vivup CEO Simon Moyle serving as the newly formed company’s Group CEO, and Perkbox CEO Doug Butler serving as Group executive chairman. After 20 years in management and leadership roles delivering innovation and development in the UK retail services market, Moyle has spent the past five years leading the transformation and rapid growth of Vivup into the market leading employee benefits provider it is today. He has led Vivup to achieve record growth and created an award-winning culture that is people centric and empowering. Butler, who became Perkbox’s CEO in December 2023, brings over 30 years of leadership experience, having run businesses across the technology, telecommunications and the employment engagement sectors. Butler is a long-time executive working with Great Hill, most recently as CEO of former Great Hill portfolio company Reward Gateway, a global HR technology and employee engagement company. Great Hill Partners’ Drew Loucks, Chris Busby and Mats Heimes will join the company’s Board of Directors.

Simon Moyle said:

“It is amazing to bring these two great organisations together. Pending FCA approval, we will be in the best possible position to support people and organisations across the UK in a very special and unique way. It is rare to find a combination such as Vivup and Perkbox where between us, 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. When I joined Vivup over five years ago, our team consisted of 17 people. Since then, our team has expanded significantly to almost 400 and with the addition of our Perkbox colleagues, we will now be over 500 strong. I am so proud of every member of our team and cannot wait to welcome our new Perkbox colleagues and support over 4,500 organisations. These last five years have been amazing but our future as a combined company is going to be even better!”

"Bringing the combined resources and technical product and support capabilities of Vivup and Perkbox together will be boon to the thousands of public and private sector clients and millions of employee users who rely on our solutions to meet their needs and challenges," added Doug Butler. "I've always admired Vivup's mission and growth under Simon's leadership and, now supported by Great Hill as an investor, our complementary technology, service offerings and people centric cultures create a perfect combination to support HR professionals and their people."

Great Hill Managing Director Drew Loucks noted:

“Today’s exciting milestone creates a new industry player that is well-positioned to capitalise on a large and growing market opportunity. Doug and Simon 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.”

Charles Gallagher-Powell, Partner at Omni added:

“This deal validates our strategy of partnering with mission-led, fast-growing businesses to help push them to greater heights. Recognising these attributes in Vivup, plus a shared ambition and culture, drove our decision to invest in 2022. We’ve loved every minute of working with Simon and the team since then. We couldn’t be prouder of what Vivup has achieved and are excited to support the new combined entity as a minority shareholder.”

The investment from Great Hill Partners has also enabled Vivup to complete the acquisition of The Employee Resilience Company (TERC Ltd), providers of specialist counselling, psychotherapy and employee assistance provision, and Work & Life Partners, specialists in childcare, eldercare and petcare. Both transactions further support Vivup and Perkbox’s focus on becoming the leading provider in the mental health, wellbeing and family care space.

Great Hill Partners’ investment in Vivup and Perkbox builds upon the firm’s significant expertise in the employee benefits space, including investments in Reward Gateway, bswift, RxBenefits, Retiree First, ParetoHealth, PlanSource, and more. Financial terms of the transaction were not disclosed.

About Vivup

Since 2005, Vivup has been providing world-class health and wellbeing benefits to employees across the public and private sectors while arming employers with the tools to cultivate resilient workforces, retain great staff and win the war on talent. Vivup partners with almost 4,000 clients and supports 3.3 million+ employees throughout the UK.

Vivup was awarded UK Employer of the Year at the Investors in People Awards in 2022 and won Best Supplier to Work for at the Employee Benefits Awards in 2023. Simon Moyle, CEO was awarded UK Leader of the Year at the Investor in People Awards in 2022 and won Scale up Entrepreneur of the Year (North East) at the Great British Entrepreneur Awards in 2023. Vivup has also just been awarded Number One SME in the UK by Elite Business.

About Perkbox 

Perkbox is the global benefits and rewards platform that allows companies to care for, connect with and celebrate their employees, no matter where they are and what they want. With over 10 years’ experience, Perkbox is trusted by thousands of companies with users across the globe. Its location agnostic globally available platform helps companies with diverse and dispersed workforces harmonise their Employee Value Proposition (EVP) — keeping each employee happy, healthy, and motivated.


About Great Hill Partners

Founded in 1998, Great Hill Partners is a private equity firm targeting investments in high-growth companies across the software, digital commerce, financial technology, healthcare, and digital infrastructure sectors. With offices in Boston and London, Great Hill has invested in more than 95 companies, establishing an extensive track record of building long-term partnerships with entrepreneurs and providing flexible resources to help middle-market companies scale. Great Hill has been recognized for its industry leadership, being ranked #4 in the 2023 HEC Paris-Dow Jones Mid-Market Buyout Performance Ranking on March 6, 2024, which evaluated fund performance of 632 leading private equity firms between 2010-2019¹. For more information, including a list of all Great Hill investments, visit www.greathillpartners.com.


About Omni

Omni invests in mission-led, fast-growing and profitable businesses that are looking for their first external capital. These are typically high-margin, UK-based companies that dominate their niche, are driven by culture-focused management teams and make at least £2m EBITDA. Omni approaches investing from a different angle. With a unique team make-up and approach, Omni focuses on shifting the odds in favour of success to turbocharge its investments and ensure that everyone wins together. Omni is authorised and regulated by the Financial Conduct Authority. For more information, please visit www.omni.co.uk. 

 

Contacts
Media

For Vivup:
Edel Brittle
edel@vivup.co.uk
+44 7485 918696

Kay Phelps
kay.phelps@prinhr.co.uk

For Perkbox:
Ellie Carsley
Brands2Life
Perkbox@brands2life.com
+44 207 592 1200

For Great Hill Partners:
FGS Global
greathill@fgsglobal.com
+1 (212) 687-8080

 ¹ Great Hill Partners did not submit a nomination to be considered for this list nor did it pay to be selected to/included on the list.

For Omni:
Peregrine Communications
omni@peregrinecommunications.com
+44 7909 994428