Apax Partners Acquires Zellis Group from Bain Capital

Epassi Group Acquires UK-based Zest

June 4, 2025

Cloud & SaaS

Epassi Group has acquired UK-based Zest, a configurable SaaS employee benefits platform, to expand its presence and product offering in the UK and across Europe. As part of the deal Matt Russell will lead the combined UK business as CEO, and the acquisition is intended to deepen Epassi's product suite for employer customers and accelerate its pan‑European growth.

Zellis Group Acquires Benify from Vitruvian Partners

September 3, 2024

Cloud & SaaS

Zellis Group, a portfolio company of funds advised by Apax Partners, has agreed to acquire Benify from Vitruvian Partners and will combine Benify with its Benefex benefits administration and employee engagement business. Vitruvian will take a minority stake in Zellis alongside the Apax Funds; the deal creates a larger global benefits, rewards and employee engagement SaaS provider serving thousands of employers and millions of employees. Financial terms were not disclosed and the transaction is subject to customary closing conditions.

Zellis Acquires elementsuite from Limerston Capital

January 13, 2024

Software

Zellis has agreed to acquire elementsuite, an AI‑enabled HR and workforce management software provider, from Limerston Capital. The deal combines elementsuite's AI capabilities (including its assistant ELLA) with Zellis' payroll and HR platform to expand Zellis' HCM and WFM capabilities; financial terms were not disclosed and the transaction is subject to customary closing conditions.

Zelis Acquires Payer Compass

August 1, 2022

Healthcare Services

Zelis has completed its acquisition of Payer Compass, a provider of reimbursement and claims pricing, administration, and processing solutions. The deal adds Payer Compass' Visium SaaS platform and claims repricing capabilities to Zelis' payments and pricing suite to expand advanced claims management and out-of-network solutions for payers and self-insured employers.

Apax Partners Acquires PIB Group from The Carlyle Group

January 25, 2021

Insurance

Funds advised by Apax Partners acquired PIB Group alongside PIB's management team; The Carlyle Group (PIB's existing investor) will re-invest for a minority stake. Financial terms were not disclosed; Apax said the investment will support PIB's continued organic growth and accelerated M&A and international expansion. PIB is a diversified insurance intermediary employing over 2,000 people across the UK, Channel Islands, Ireland, Germany, Poland and India.

Funds Advised by Apax Partners Acquire Lexitas from Trinity Hunt Partners

November 5, 2019

Legal Services

Funds advised by Apax Partners (the Apax Funds) acquired Lexitas, a Houston-headquartered, technology-enabled litigation support services provider, from Trinity Hunt Partners and Lexitas management/other investors. The investment is intended to accelerate Lexitas's growth through geographic and salesforce expansion, technology differentiation, and strategic M&A.