Arma Partners is pleased to announce that it has acted as financial advisor to Zellis Group, a portfolio company of funds advised by Apax Partners LLP, that provides HR, payroll, and benefits administration software, on the acquisition of Benify, a provider of employee benefits administration software, from Vitruvian Partners.

As part of the transaction, Benify will be combined with Zellis Group’s benefits administration and employee engagement software business, Benefex, and Vitruvian Partners will become a minority investor in Zellis Group alongside the Apax Funds.

Together, Benefex and Benify will create a leading global benefits, reward, recognition, and employee engagement software provider with an enhanced value proposition to customers globally.

Combined, Benefex and Benify will support c.3,000 companies across more than 100 countries to transform and align the experiences of more than 5 million employees through their modern benefits, wellbeing, broking, rewards and recognition, and communications offerings. Together, the two businesses will be better able to enhance employee experiences across the globe.

This transaction highlights Arma Partners’ deep expertise in HCM software and reaffirms our position as a trusted advisor to leading global private equity-backed strategic platforms in executing transformative cross-border deals.