The Carlyle Group to Acquire Dallas-Based BenefitMall

November 21, 2017

The Carlyle Group, a global alternative asset manager, is acquiring Dallas-based BenefitMall, a provider of employee benefits and payroll services to small and medium sized businesses across the U.S., from an investor group led by Austin Ventures.

The transaction is subject to customary conditions and is expected to close by year-end. Financial terms were not disclosed.

Founded in 1979, BenefitMall is a national general agency and privately-owned payroll services firm in the U.S. that serves 200,000 small and medium-sized businesses, and partners with a network of 20,000 brokers and CPAs.

Equity for this investment will come from Carlyle Global Financial Services Partners II, a $1 billion fund that invests in financial service firms globally. Carlyle’s financial services team has extensive experience in the insurance services industry, including investments in AA Ireland, Barbon Insurance Group, Edgewood Partners Insurance Center (EPIC), JenCap Insurance Solutions and PIB Limited.

Carlyle advisors: Sandler O’Neill + Partners, L.P. – financial; Wachtell, Lipton, Rosen & Katz – legal; PricewaterhouseCoopers – accounting and tax.

Source: The Carlyle Group

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