Cavendish is delighted to announce that it has advised FPE Capital on the sale of leading employee benefits platform, Zest, to Epassi Group.

Zest is a leading UK employee benefits software platform trusted by over 500 organisations and 300,000 employees. Through its award-winning technology platform, Zest provides a highly configurable and personalised solution that drives employee engagement for its clients. Since FPE’s investment in 2021, Zest has scaled significantly and undergone a period of transformational growth, with significant investment into its product, launching new platform capabilities, and the addition of senior leadership talent who have pivoted the business from channel-led to direct sales.

Backed by Warburg Pincus and TA Associates, Epassi is a leading provider of technology services for employee benefits, serving approximately 43,000 employers and over 22 million employees, collaborating with more than 97,000 service providers as part of the employee benefits ecosystem.

The acquisition marks a significant step in Epassi’s strategy to deliver scalable, technology-driven benefit solutions across Europe.

Pekka Rantala, CEO of ePassi Group, said:

“Zest’s advanced platform and strong market position in the UK perfectly complement our vision of a unified, digital-first, multi-benefit experience across all markets. We warmly welcome the Zest team into the Epassi family.”

Matt Russell, CEO of Zest, said:

“We are thrilled to join Epassi. Together, we share a passion for innovation and wellbeing. By combining our strengths, we will be able to offer clients even more value, scale, and product depth. This is a hugely exciting opportunity for our people, our partners, and our customer”

For Cavendish, this deal marks the 15th technology transaction in the last 12 months and builds on its outstanding credentials in Employee Engagement, having advised on Perkbox, TicTrac, Xexec and Reward Gateway.

Mike Dinsdale, Director at Cavendish commented:

“This is another standout transaction in the evolving HR-Tech landscape, further demonstrating Cavendish’s depth of expertise in the employee engagement sector. We are delighted to have supported FPE on a successful exit that positions Zest and its fantastic management team for the next phase of growth under Epassi’s ownership.”