Platform Partners Completes the Sale of Beneplace to Entertainment Benefits Group
AUSTIN, Texas, Oct. 15, 2019 /PRNewswire/ -- Platform Partners, a private investment firm based in Houston, announced the sale of Beneplace to Entertainment Benefits Group ("EBG"). Headquartered in Austin, Beneplace is a leading voluntary benefits platform provider that supports Fortune 1000 companies, government agencies and other large organizations.
"We are grateful for all the effort Rusty Stein and the entire Beneplace management team invested in the company over the past few years. The investments made in both people and technology positioned Beneplace for growth for years to come. We are excited about the combination of Beneplace and EBG and believe it creates an even more compelling offering with significant added benefits for both customers and employees," said Fred Brazelton, CEO of Platform Partners.
Vik Kalra, Vice President of Platform added, "When we were first introduced to Beneplace, we were excited to work with the company's President, Rusty Stein, and the talented group of Beneplace employees. Rusty and his team built an industry leading, best-in-class business, and we would like to thank the entire team for their efforts in growing the company."
Rusty Stein commented, "Platform provided us with strategic insight and capital to significantly invest in our business to drive organic growth and enhance our value for all our stakeholders. I am very pleased with what we have accomplished together and believe EBG will serve as a perfect home for our next phase of development."
About Platform Partners, LLC
Founded in 2006, Platform Partners LLC is a private company based in Houston that makes investments in lower middle-market companies with the intent of growing these businesses into industry leaders through a combination of organic and acquisition growth. Platform invests through a perpetual holding company structure allowing for a long-term, patient approach to partnering with entrepreneurs to build companies. The company manages total assets of approximately $450 million across two investment strategies, Platform Partners Investment Company LLC and Platform Partners Capital LLC. For more information, please visit www.platformllc.com.
About Beneplace, LLC
Beneplace, LLC is one of the fastest-growing voluntary benefits companies in the industry, managing customized voluntary benefits and consumer savings programs for Fortune 1000 companies, government agencies and other large organizations, reaching approximately nine million employees. Headquartered in Austin, Beneplace delivers carefully curated, intelligent and complete voluntary solutions and consumer savings programs that meet their customers' specific goals. For more information, visit www.beneplace.com.
SOURCE Platform Partners
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