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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