MID-MARKET private equity house Inflexion acquired Asperity Employee Benefits in a £25.5m buyout yesterday.
Asperity, a market leader at providing employee benefits such as discount and reward schemes, has more than 500 clients including BSkyB, Aviva and Ladbrokes and attracts about £150m of retail spend through its platform each year.
Inflexion co-founder John Hartz said Asperity was attractive due to its double-digit growth performance through the recession. The deal would support Asperity’s UK expansion plans and give it the firepower to make new acquisitions. “We have already started looking,” he said.
Inflexion’s Simon Turner and Christian Hamilton will join the board while Asperity co-founder Glenn Elliott stays managing director.