The company

Asperity Employee Benefits is the UK market leader in flexible employee benefit programmes.

With over 500 clients, Asperity’s technology powers employee discounts; salary sacrifice schemes; total reward systems; and reward and recognition programmes. Well 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. 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 business has grown strongly since inception and its current growth momentum is continuing, demonstrating robust counter cyclicality in the face of a consumer downturn. The business is on track to deliver EBITDA growth in 2011 which 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.

The investment

The £25.5m buyout was led by Simon Turner, Christian Hamilton, Gareth Healy and Nicola Boyd. Christian Hamilton and Nicola Boyd will join the Board as Non Executive Directors.

Asperity is an excellent example of the type of business that Inflexion seeks to invest in. It is the UK market leader in a niche sector, which delivers superior service to its customers and a company with a strong business model, which is growing significantly, with a dynamic management team who are ambitious for its future.

“Inflexion's investment will provide us with the financial and business muscle that will help us to continue to shape employee benefits markets over the next few years. We’ve conducted a comprehensive search for the right partner to help develop internationally and the team at Inflexion has demonstrated fantastic experience and a great track record that we’re really keen to be part of.” Glenn Elliott, Founder and Managing Director, Asperity.