Platform Partners LLC (Platform), a private company headquartered in Houston, has completed the acquisition of Beneplace LLC (Beneplace), markets and distributes voluntary employee benefits and employee discount programs serving Fortune 1000 companies, large associations and government agencies.
Founded in 1995, Austin-based Beneplace currently serves employers and institutions in the U.S., Canada, Latin America, Europe, Australia and Asia. Along with a comprehensive voluntary benefits offering that includes auto and home, critical illness, dental, disability, group legal, long-term care, and other voluntary benefits, Beneplace offers an employee discount platform for well-known products and services such as consumer electronics, vacations, automobiles, tax preparation and many others. Beneplace offers its products and services to more than nine million employees across multiple industry sectors.
Beneplace’s management team, led by President Rusty Stein, will continue to manage the business.
In addition to Platform and the management team, Galtney Partners LP, led by Will Galtney, a successful owner and investor in numerous insurance and healthcare companies, invested alongside Platform.
Focus Strategies LLC acted as financial advisor to Beneplace and Hogan Lovells LLP acted as legal counsel in connection with the transaction.
Source: Platform Partners