The Simply Biz Group has today purchased the majority of shares in Staffcare for an undisclosed sum.
Staffcare provides software and support to power flexible benefits and auto-enrolment solutions to many of the UK’s largest EBCs.
Simply Biz has acquired approximately 80 per cent of the business with founder and CEO, Phil Hollingdale and head of global business and workplace savings Graham Jarvis retaining the balance. Both will remain within the business and are charged with driving it forward with increased backing from Simply Biz.
Simply Biz chairman Ken Davy says: “Staffcare are well positioned as the market leader in providing important technology to power flexible benefits solutions for employers as well as many of the markets independent auto enrolment solutions. We believe that auto enrolment and workplace savings will be key markets for many of the firms we serve and therefore it is important to them that we acquire the best and most innovative business in this field.
“We see major growth in the desire for employers to implement flexible benefit packages for their employees as well as the obvious opportunities that auto enrolment brings. These markets will be served by a combination of EBC’s and small and medium sized financial advisers and we intend to invest in the business to ensure it supports both markets.
“This is excellent news for the firms we serve as they will have access to the very best auto enrolment solutions, allowing them to generate a real footprint in this market, as well as having the software to up-sell flexible benefits in the future.
“For Staffcare’s existing client base, we will ensure continued investment in product development to ensure they have the very best software available in the market. We know and understand how important flexible benefit solutions are to these businesses and we aim to support Staffcare in the development and delivery of innovative technology to this market.”
Hollingdale says: “We are delighted with the acquisition by Simply Biz. Their business, as well as ours, is built on a solid understanding of the market and the future opportunities that exist. They provide services to over 5,000 advisers, many of whom will want to provide auto enrolment solutions to their client base. With the financial backing of Simply Biz and their understanding of regulation, we will be able to continue to invest in our products and services for our existing clients as well as provide solutions for the wider advisory market.”