Howden Broking Group has bought a 60 per cent stake in Spanish flex provider Compensa, expanding its footprint in both Spain and Mexico.
The business is also known as a specialist in compensation and benefits communication.
Compensa has offices in Barcelona, Mexico City, Madrid and Palma. The business has a client portfolio that includes a number of IBEX 35 names and big international corporations. Compensa’s specialist team of 100 benefits professionals provides services to 450,000 employees in more than 190 businesses, across 25 countries.
Howden Iberia divisional CEO Salvador Marín says: “The acquisition of 60 per cent of Compensa will allow us to become a leader in employee benefits in the Spanish market, a key area of strategic growth for Howden.’’
Compensa president Carlos Delgado says: “Howden’s investment in Compensa enables us to take an exponential leap in our growth plans, international expansion and the development of new business models. It guarantees that we can provide differentiated value to our clients at a time when workplace wellbeing is a key motivator for employees.”
Howden global Employee Benefits practice leader Glenn Thomas says: “Howden and Compensa are well-aligned with a strong strategic and cultural fit. 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.
‘’What is clear from the Covid 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.”