The Vistria Group announced an investment in Flores & Associates LLC (Flores or the "company"), a leading provider of benefit technology solutions and administrative services to employers throughout the United States. As part of the transaction, Century Equity Partners and The Vistria Group will each hold equal ownership in the Company and continue to back the current management team, led by Gary Trainor and Jody Oliver.
The Charlotte, N.C.-based company is a premier administrator of employer-sponsored reimbursement plans, providing a suite of integrated benefits solutions independent of any insurance carrier. The company combines high-touch service, best-in-class productivity and innovative proprietary technology to deliver complete plan design and compliance support for reimbursement plans, COBRA, FMLA leave management, and direct bill programs. Flores has established itself as a preferred partner to thousands of businesses and continues to grow nationally.
The company has been a successful acquirer in the space, consolidating smaller players into one, seamless, technology platform and providing an increasingly broad suite of products for their clients. The Vistria Group leverages its operational resources to support its portfolio companies, now including Flores, to help them scale and expand opportunities. The Vistria Group's involvement along with continued support from Century Equity Partners will provide Flores with a capital structure from which to grow, both organically and through further M&A in the space.
Waller Helms Advisors served as financial advisor to The Vistria Group.