One of the biggest business news stories of the past week has been the announcement that Vivup and Perkbox have joined forces to create an ‘all-in-one platform devoted to employees across the private and public sectors.’ Vivup, which began operating in 2005, is a leading health and wellbeing company, while the slightly younger Perkbox run a global benefits and reward platform.
The day-to-day operations of each will remain consistent across the newly combined businesses with Vivup boss Simon Moyle serving as the company’s group chief executive. His opposite number at Perkbox, Doug Butler, becomes the group executive chairman. Great Hill Partners, an equity firm that invests in high-growth companies, have secured a majority stake in the new business.
The combined businesses currently support over four million employees, across 7,500 organisations. This includes 85% of the NHS. The companies will now merge their services; with Great Hill Partners expected to assist the new business to scale even greater heights.
This recently-agreed transaction is subject to Financial Conduct Authority (FCA) authorisation. Simon Moyle, the newly-installed group chief executive, has more than 20 years of management and leadership experience, delivering innovation to the UK retail services market.
He has spent the past five years transforming Vivup and he says: “It’s 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 special and unique way.
“It is rare to find a combination, such as Vivup and Perkbox, where there is very little overlap in the areas in which we both currently operate. When I joined Vivup our team consisted of 17 people. Since then, this has expanded significantly to almost 400.
“With the addition of our Perkbox colleagues, we will now be over 500 strong. These last five years have been amazing but our future, as a combined company, is going to be even better.”
Doug Butler, the group executive chairman, became boss of Perkbox in December of last year. He brings over 30 years of leadership experience to the table, having run businesses across the technology, telecommunications and employment sectors.
He also has a long history of working with Great Hill, most recently as the chief executive of their portfolio company Reward Gateway (a global HR technology and employee engagement organisation).
Drew Loucks, Chris Busby and Mats Heimes, who are partners at Great Hill, will join the new company’s board of directors. Doug explains: “Combining the resources of Vivup and Perkbox will be a boon to thousands of public and private sector clients, along with millions of employees 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, we have created the perfect combination to support HR professionals and their people.”
Founded in 1998, Great Hill Partners is a private equity firm targeting investments in high-growth companies. They specialise 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, while helping middle-market businesses to scale. Managing director Drew Loucks added: “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 have strong track records of scaling industry-leading businesses. They have both created successful, client-centric cultures and innovative product offerings. We are excited to support the teams, and bring Vivup and Perkbox together. I am convinced they will deliver a powerful platform devoted to employee wellbeing, benefits and engagement across the UK.”
Meanwhile Omni Partners, who invested in Vivup in 2022, will retain a minority stake. Charles Gallagher-Powell, a partner with Omni, says: “This deal validates our strategy of partnering with fast-growing businesses.
“We’ve loved every minute of working with Simon and his team. We couldn’t be prouder of what Vivup has achieved during the past couple of years and we are excited to support the new organisation as a minority shareholder.”
About Vivup: Since 2005, they have provided world-class health and wellbeing benefits to employees across the public and private sectors. Vivup partners with almost 4,000 clients and supports 3.3m employees in the UK. In 2022, Simon Moyle was named ‘Leader of the Year’ at the Investor in People Awards. And Vivup was recently ranked as the UK’s No 1 SME by Elite Business magazine.
About Perkbox: For more than a decade, Perkbox has been a global benefits and rewards platform. This has allowed companies to care for, connect with and celebrate their employees. Perkbox is a leader in employee discount schemes and is trusted by thousands of companies around the world.
For a list of all Great Hill investments, please click here.
