Health and wellbeing benefits provider Vivup and global benefits and reward platform Perkbox have combined forces to become one organisation.
Simon Moyle, chief executive officer (CEO) of Vivup, will serve as the newly formed organisation’s group CEO, and Doug Butler, CEO of Perkbox, will be group executive chairman. The agreed transaction is subject to Financial Conduct Authority authorisation.
The new organisation has received a majority investment from growth equity firm Great Hill Partners. The aim of this is to help it scale its go-to-market capabilities, innovate product offerings, and accelerate growth opportunities.
Drew Loucks, Chris Busby and Mats Heimes from Great Hill Partners will join the board of directors, while Omni Partners, which invested in Vivup in 2022, will retain a minority stake to continue supporting growth.
The investment has also enabled Vivup to acquire The Employee Resilience Company, which provides specialist counselling, psychotherapy and employee assistance, and Work and Life Partners, which specialises in childcare, eldercare and petcare.
Moyle said: “It is amazing to bring these two great organisations together. 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 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.”
Butler added: “Bringing the combined resources and technical product and support capabilities of Vivup and Perkbox together will be a 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. 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.”