The Perkbox Vivup Group is to acquire Let’s Connect from Personal Group Holdings Plc
The acquisition strengthens Perkbox Vivup’s position as the number one provider of technology-based salary sacrifice benefits
London (11 July 2024) - The Perkbox Vivup Group, recently formed to create a world-class benefits, wellbeing, and engagement platform, has announced that it is acquiring Let’s Connect from Personal Group Holdings Plc (“Personal Group”). Let’s Connect is an established, highly regarded provider of technology salary sacrifice benefits, with a number of impressive partners and public and private sector clients.
The divestment of Let’s Connect enables Personal Group, the workforce benefits and services provider, to focus on the core areas of its business, while supporting the optimised long-term performance of Let’s Connect under new ownership.
Vivup’s market-leading salary sacrifice employee benefits support employees by providing affordable, accessible and convenient purchasing power, particularly needed with increasing cost of living pressures. Salary Sacrifice schemes help employees better manage their finances and avoid using credit cards or costly payday loans.
Simon Moyle, CEO of Vivup, said:
“The acquisition of Let’s Connect further strengthens our new group’s ambition to be No1 in each of the areas we operate. The merger of Perkbox and Vivup, with investment from Great Hill Partners, is enabling us to acquire a successful small business that is core to our offering, while supporting the group's overall growth journey.
“Let's Connect's clients, in turn, get the best of both worlds. Largely, this is business as usual - employers and partners will continue working with Let’s Connect. The difference is that they and their users gain from a wider range of products from Vivup’s salary sacrifice platform, providing access to 70,000 home and electronics products at leading retailers like Currys, John Lewis and Decathlon.”
Paula Constant, Chief Executive of Personal Group, commented:
“We are delighted to have secured such a well-suited home for the Let’s Connect team and customers. As a value led organisation we take very seriously the wellbeing of all our staff, and we are pleased that the Let’s Connect team will be joining a business with a similarly strong employee focus.
As previously announced, our strategy review has validated the strength of our insurance and benefits platform offerings. This deal enables a greater focus on these core areas of our business, and we are committed to the execution of our strategy for accelerated growth.”
The Let’s Connect team will blend into Vivup’s operating structure, joining a culture where its way of working has led it to being awarded one of the Sunday Times’ Best Places to Work for 2024, as well as Employee Benefits Awards’ Best Provider to Work For in both 2023 and 2024.
ENDS
About Perkbox Vivup
Perkbox and Vivup joined forces on 1 July 2024 to create a world-class benefits, wellbeing, and engagement platform. With over two decades of combined experience, their goal is to enable more organisations to better support and engage their employees — something which has become essential in the wake of a global pandemic and a hard-hitting cost-of-living crisis.
By combining their strengths, Perkbox and Vivup aim to enhance access to specialist mental health services and help staff manage the cost of everyday essentials. Perkbox and Vivup’s best-in-class solutions will create a super partnership that supports staff in all areas of life, at every stage of their career, both in and out of the workplace.
As a unified entity, Perkbox and Vivup can assist more employees than ever before to live better and work better through their combined expertise in the public, private, SME, and corporate sectors. Right now, they collectively support more than 4 million employees across 7,500 organisations to thrive through an enhanced range of benefits.
Their vision is to create a world where work becomes our happy place. Together, Perkbox and Vivup are positioned to reinvent and revolutionise the world of employee benefits, driving innovation, setting new standards, and shaping the future with transformative solutions that redefine wellbeing.
www.vivupbenefits.co.uk
www.perkbox.com
About Personal Group
Personal Group Holdings Plc (AIM: PGH) is a workforce benefits and services provider. The Group enables employers across the UK to improve employee engagement and support their people's physical, mental, social and financial wellbeing. Its vision is to create a brighter future for the UK workforce.
Personal Group provides health insurance services and a broad range of employee benefits, engagement, and wellbeing products. Its offerings can also be delivered through its proprietary app, Hapi.
Group Clients include Airbus, Barchester Healthcare, Merseyrail, Randstad, Royal Mail Group, The Royal Mint, the Sandwell & Birmingham NHS Trust, Stagecoach Group plc, and The University of York.
For further information on the Group please see www.personalgroup.com.
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 2010-2019[1]. For more information, including a list of all Great Hill investments, visit www.greathillpartners.com.
For more information please contact:
Edel Brittle, Senior PR and Events Manager, Vivup. M: 07485 918696 E: Edel@Vivup.co.uk
Or
Kay Phelps, Director, PR in HR. M: 07710 043244 E: Kay.Phelps@PRinHR.co.uk