Howden Broking Group this week signalled its intention to grow its global employee benefits operation with the acquisition of a 60% shareholding in Spanish-based Compensa Capital Humano.
Compensa operates in both in its home country of Spain and Mexico and is a well-established flexible benefits provider in the Spanish market and a specialist in compensation and benefits communication.
Compensa – which has been established for 15 years – has offices in Barcelona, Mexico City, Madrid and Palma.
Its specialist team of 100 benefits professionals provides services to 450,000 employees in more than 190 businesses, across 25 countries.
Salvador Marín, Divisional CEO of Howden Iberia, said the deal will allow Howden to become a “leader in employee benefits in the Spanish market”, which he described as a “key area of strategic growth” for the organisation.
Carlos Delgado, President of Compensa, said that Howden’s investment his organisation to take an “exponential leap” in its growth plans, international expansion and the development of new business models.
Delgado said: “It guarantees that we can provide differentiated value to our clients at a time when workplace wellbeing is a key motivator for employees.”
Glenn Thomas, Howden’s Global Employee Benefits Practice Leader, said that Howden and Compensa are “well-aligned with a strong strategic and cultural fit”.
Thomas added: “Carlos and his team will play a key role in our fast growing global Employee Benefits practice, bringing great expertise and market-leading HR consultancy and technology across important markets in Spain and Latin America”.
Thomas also said that what is “clear” from the COVID-19 pandemic is that supporting employees wellbeing and engaging them through technology – “as Compensa does” – is going to be increasingly important to employers in the future.
Terms of the deal have not been disclosed.