BenefitMall completes sale to Austin Ventures and merger with CompuPay
Clients BenefitMall Holdings, Inc.
Jones Day advised BenefitMall, one of the nation's leading providers of products, services, and tools to employee benefits insurance brokers, in connection with its sale to an investor group led by Austin Ventures. The all-cash transaction was funded through a combination of equity and debt, with certain members of management investing a portion of their merger proceeds as equity of a newly formed holding company. Simultaneously, the investor group acquired CompuPay, a payroll services company, based in South Florida. As a result, BenefitMall and CompuPay are wholly owned by this new holding company and will be operated jointly, led by the BenefitMall management team.