Paylocity Holding Corp acquired BeneFLEX HR Resources, Inc., a transaction completed in March 2018, structured as Asset purchase (substantially all assets), all-cash transaction.
BeneFLEX HR Resources, Inc. operates in Benefits Administration, is based in United States. BeneFLEX, founded in 1994 and headquartered in St. Louis, is a privately held third-party benefits administration company that administers employee benefit plans including flexible spending accounts (FSAs), health savings accounts (HSAs), health reimbursement accounts (HRAs), and COBRA for mid-market clients across the Midwest and California. Paylocity acquired substantially all of its assets, adding roughly 36 employees along with clients and referring brokers.
Expands Paylocity's product portfolio with additional benefits administration solutions for clients, prospects, and the insurance broker community, combining BeneFLEX's expertise with Paylocity's payroll and HCM platform.
Advisory firms were not disclosed for this transaction.