Clearwater advises Asperity on Inflexion buy-out


Clearwater Corporate Finance has advised the shareholders of Asperity Employee Benefits, the UK market leader in flexible employee benefit programmes, on its £25.5 million buyout by mid-market private equity investor, Inflexion Private Equity.

With over 500 clients, Asperity’s technology powers employee discounts, salary sacrifice schemes, total reward systems, and reward and recognition programmes. Over £150 million of retail spend flows through the platform annually, making Asperity the largest closed user group in the UK and therefore commanding the biggest buying power. The Company’s clients include BSkyB, Aviva, Ladbrokes, Kent County Council and TUI Travel.

Asperity provides benefit programmes through its white-labelled and employer branded internet based platform, to which employees login to access exclusive benefits. Asperity has a range of deals with hundreds of retailers, offering reduced price merchandise.

The Company has grown strongly since its inception with revenue more than tripling since 2007. Current growth momentum continues both by volume and average revenue per transaction, and the business is on track to deliver EBITDA growth in 2011 that will more than double that achieved in 2010. Inflexion will work with Asperity to continue this growth by exploiting the significant UK market opportunity as well as accelerating the company’s international presence.

Partner Nick Jones led the deal team for Clearwater, supported by director Dan Bowtell and manager Ravi Monteiro.

Nick Jones said: “Inflexion’s investment and expertise will allow Asperity’s strong existing management team to further consolidate its market-leading position, and drive expansion into overseas markets. We are delighted to have advised the Company on this transaction, which is a good fit for both parties.”