KBS Corporate Finance advised on the Management Buy-Out of Vivup
Vivup provides employee health and wellbeing benefits to over 550 public and private sector organisations, supporting more than 1.5 million employees mentally, physically, and financially through bespoke benefits programmes. The company’s proprietary Fintech software enables transactional flows between employee, employer and contracted partners providing significant revenue from Estore sales (with products ranging from electronics through to holidays), SaaS annual income from the Reward App, FCA regulated insurance products and Employee Assistance Programme (EAP) charges per employee.
Having built the company over several years Jane Davis and Simon Moyle, the shareholders of Vivup, approached KBS Corporate Finance with the aim of accelerating further growth.
The opportunity attracted impressive levels of interest, the majority of whom came from UK trade buyers and private equity. KBS Corporate Finance was able to generate a competitive bidding environment with the ultimate offer coming in the form of an MBO backed by Omni Partners LLP. The London Based private equity firm has an eclectic portfolio including companies in the construction and building, energy, and recruitment sectors.
Simon Moyle, CEO of Vivup commented: “Times are changing and now more than ever employers are focused on the welfare of their staff and fostering a work environment which engages and empowers their people. We are committed to providing world-class employee health and wellbeing benefits and this MBO will allow us to further enhance our offering and continue to transform work cultures through impactful benefit programmes.”
He was delighted with the work that KBS did saying “Thank you Julian and KBS for all your hard work and making sure we had a bulletproof agreement – we appreciate everything you have done for us.”
Charles Gallagher-Powell, Head of Private Equity at Omni commented: “We are excited to be supporting Simon and his team at Vivup in continuing the exceptional growth they have achieved in recent years. Employee engagement and wellbeing are more important than ever and Vivup is leading the way in providing innovative offerings in support.”
Steven Clark, Omni Founder says: “Our investment in Vivup continues our theme of backing best-in-class management teams to further execute on their vision. We look forward to partnering with the Vivup team as they continue with their mission of revolutionising employee benefits.”
Julian Coy, Managing Director of KBS Corporate Finance, and Anne Pritchard, Corporate Finance Executive, advised Vivup throughout the process. Legal advice was provided by TLT LLP.
Julian Coy commented: “We were delighted to work with the Vivup team to firstly gain a deep understanding of the B2B2C business model and then introduce a wide range of UK and International Private Equity and trade buyers to the shareholders and management, so they had multiple options to choose from. Vivup’s disruptive market approach and leading software mean that they dominate the Public Sector market at a time when staff recruitment, retention and motivation are critical. The investment by Omni Partners should allow them to continue to innovate, widen the service offering and accelerate their penetration of the wider market.”