Midlands-based employee benefits consultancy Portus Consulting has been bought by Aon for an undisclosed fee.
Portus has around 190 clients, largely across the 50 to 750 employee SME sector, with a strong footprint in the legal profession.
Aon says the acquisition supports its ambitions to grow its UK employee benefits business both organically and through acquisition. Portus will join Aon Employee Benefits, which provides consultancy, broking services and technology to 2,500 large and SME corporate clients, covering over 1 million lives in the UK.
Terms have been agreed, subject to approval by the Financial Conduct Authority (FCA), and Aon anticipates to complete the acquisition by 31st August 2017.
Aon Employee Benefits, UK CEO David Battle says: “There is rising recognition from organisations of the importance of investing in employee benefits. Employers are increasingly encouraging staff wellbeing and retirement savings, which is putting the UK employee benefits market in a period of steady growth. Portus is a great strategic and cultural fit for our business, helping us to consolidate and strengthen our position in the market. Portus has an excellent team, a wealth of knowledge and experience, along with some great technology solutions which complement our own products and services.”
Portus founder Stuart Gray says: “This acquisition is bringing together two very strong businesses and the joint team will create vast expertise and offer innovative products to the market.”
Portus CEO Dave Middleton says: “Both the Aon and Portus leadership teams recognise the strong cultural fit between our two companies, which will ensure a smooth transition for colleagues and clients alike.”