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TA and Warburg Pincus acquire majority stake in Epassi Group

Funds advised by growth-focused private equity investment firms TA Associates (TA) and Warburg Pincus have acquired a majority stake in Epassi Group (Epassi), from majority shareholder and tech-focused PE firm Bregal Milestone. 

As part of the transaction, Epassi’s founder Risto Virkkala will remain invested in the next stage of the company’s growth strategy.

Epassi is a specialist in digital employee benefit payments in the Nordics, serving approximately 10,000 employers in the region, and enabling two million employees to redeem a comprehensive range of employee benefits through the firm’s network of 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.

The terms of the transaction, which is subject to customary closing conditions, have not been disclosed.

Kirkland & Ellis acted as legal counsel to Warburg Pincus and Goodwin acted as legal counsel to TA. JP Morgan acted as exclusive financial advisor and White & Case acted as legal counsel to Bregal Milestone and Epassi.

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