FT Partners Advises on $80,000,000 Sale of Benaissance
Overview of Transaction
- On October 15, 2015, Benaissance, LLC ("Benaissance" or the "Company") announced it has entered into a definitive agreement to be acquired by WEX for $80mm
- Headquartered in Omaha, NE, Benaissance is a leading provider of integrated software-as-a-service (SaaS) technologies and services for healthcare premium billing, payment and workflow management
- WEX is a leading, multi-channel provider of corporate payment solutions representing more than 9 million vehicles across a variety of industries, including the travel and healthcare sectors
- The transaction is expected to close in the fourth quarter of 2015 and is subject to applicable regulatory approvals and other customary closing conditions
Significance of Transaction
- Achieves highly attractive outcome for both Benaissance and WEX
- Combined resources and expertise of Benaissance and WEX position the Company extraordinarily well to further its leadership in the marketplace
- Upon completion of the transaction, Benaissance will be integrated with WEX's existing Evolution1 platform, providing potential synergies as the companies already share a number of mutual partners and customers
- Enables WEX to provide an expanded and differentiated payments solution and enhance its addressable market opportunity and wallet share over time
FT Partners' Role
- FT Partners served as exclusive strategic and financial advisor to Benaissance and its Board of Directors
- Transaction highlights FT Partners' continued success advising leading companies and generating highly successful outcomes in the Insurance and Healthcare IT space