WEX Acquires Ascensus Health and Benefits Unit for $180M

WEX Acquires benefitexpress for $275M

July 14, 2021

Cloud & SaaS

WEX (NYSE: WEX) agreed to acquire benefitexpress, a cloud-based benefits administration technology and services provider, for approximately $275 million. The acquisition expands WEX's Health offerings by adding configurable enrollment, benefits administration and value-added services, and was completed in June 2021 subject to customary closing conditions.

Atlas Merchant Capital-Led Group Acquires ~25% Stake in Ascensus

February 19, 2019

Financial Services

A group of new investors led by Atlas Merchant Capital LLC, including GIC, will acquire just under 25% of Ascensus from existing owners Genstar Capital and Aquiline Capital Partners. The minority investment is a growth-capital/secondary transaction to support Ascensus' continued growth and provide liquidity to existing sponsors; terms were not disclosed and the deal was expected to close in Q1 2019.

Wesco International Acquires Ascent LLC for $185 Million

November 3, 2024

Infrastructure

Wesco International has acquired Ascent LLC, a data center facility management and services provider, for a cash-free, debt-free purchase price of $185 million. Ascent—headquartered in St. Louis with more than 300 employees and ~$115 million in trailing twelve-month sales—adds site operations, engineering, liquid-cooling capabilities and a proprietary Navigator platform to Wesco's data center solutions portfolio.

Warner Pacific Acquires BeneUSA

November 7, 2023

Insurance

Warner Pacific has acquired BeneUSA LLC, an Excelsior, Minnesota-based employee benefits general agency that specializes in ancillary group insurance products such as life, disability, dental, and vision. The deal expands Warner Pacific’s geographic footprint into the Midwest and enhances its ancillary product capabilities and carrier relationships; terms were not disclosed.

Ascensus Specialties Acquires Wychem Limited from AURELIUS Equity Opportunities

December 13, 2021

Manufacturing

Ascensus Specialties LLC has acquired Wychem Limited, a UK-based independent fine chemical manufacturer, from AURELIUS Equity Opportunities. The acquisition expands Ascensus' European manufacturing footprint and adds Wychem's capabilities in aromatic compounds, halogenation and multi-step intermediates for pharmaceutical APIs; financial terms were not disclosed by Ascensus, while AURELIUS reported a 10.6x money-over-money multiple on the sale.

Ambac Financial Group Acquires 80% of Xchange (Xchange Benefits & Xchange Affinity Underwriting)

December 24, 2020

Insurance

Ambac Financial Group agreed to acquire 80% of the membership interests in Xchange Benefits, LLC and Xchange Affinity Underwriting Agency, LLC, with Xchange management principals retaining the remaining 20%. The acquisition is part of Ambac's strategy to diversify into specialty program insurance and expand its MGA/MGU capabilities to generate recurring fee-based income and accelerate Xchange's geographic and product growth plans.