Deloitte advised Epassi owners and management team in the divestment

We are excited to announce that we have assisted Bregal Milestone, Epassi minority owners and the management team in the successful divestment of majority stake to Warburg Pincus and TA Associates. Epassi is a market leader for digital employee benefit payments in the Nordics serving c. 10,000 employers with c. two million employees using benefits in more than 51,000 merchants in Finland and Sweden. In 2023, Epassi expanded into the European market, adding more than 3,000 employers, 11 million employees and 11,000 merchants across Italy, the UK and Ireland to the Company’s platform.

Deloitte provided comprehensive advisory services to support the preparation and execution phase of the divestment. Services provided included a comprehensive revenue and KPI analytics work including M&A professionals and technology professionals with MySQL and analytics skills. Company can utilize this work going forward and it was also incorporated into VDD together with financial, IFRS and tax sections. Post VDD we continued to support the process towards signing.

In addition, Deloitte Finland and Deloitte UK supported Epassi in the acquisition of Incorpore Ltd in April 2023 and Deloitte Italy supported Epassi in the acquisition of Italian Eudaimon in June 2023.

"This is a great example how we can utilise our wide expertise within Deloitte to bring in strong M&A, analytics & technology professionals to navigate through complex problems towards successful outcome" says Niko Annola, who led the project at Deloitte.

The core project team included Marko Pöllänen, Niko Annola, Santeri Karvinen, Arttu Antikainen, Pia Stubb and Terttu Liukko. In addition Markus Wallin, Lauri Ruhanen, Kaisa Mujunen, Jutta Kangas and many other professionals from assurance, tax, consulting and Deloitte Sweden, Poland, UK and Italy participated in this process.