Towergate Health & Protection, part of SME broking platform Ardonagh Advisory, has snapped up Benefiz Limited in Devon.
Benefiz helps small and mid-sized businesses offer employee benefits typically reserved for larger companies. The advisory firm designs, sources, and implements a broad array of benefits packages, which are digitally managed through an online platform.
Following the acquisition, financial terms of which were not disclosed, Benefiz will operate under Towergate Health & Protection. It will allow the whole-of-market adviser to expand its service portfolio, particularly in the area of pensions support.
Benefiz founder and chief executive Tim Gillingham (pictured) commented: “Joining Towergate Health & Protection and the broader Ardonagh Group will help support our continued growth by allowing us to cover more services to existing Towergate clients, meeting the growing demand from clients for a single advisory firm managing all their benefits.”
He added: “In looking for the right owner for Benefiz, opportunities for our team and the commitment to support our continued growth were paramount. In Towergate Health & Protection, we’ve found both. We’re thrilled to be joining forces.”
Meanwhile Iain Laws, CEO of Towergate Health & Protection, called Benefiz a “strategic addition” to the wider business, given the benefits technology platforms and pension administration capabilities it brings.
“This will help us meet growing demand from larger businesses for a holistic approach to employee benefits and marks our evolution into a comprehensive employee benefits adviser,” Laws noted. “We look forward to working with Tim and his team in this exciting next chapter in our ongoing development.”
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