Hodges-Mace Benefit Group (HMBG) is a leading provider of employee benefits administration technology and on-site enrollment services to mid- and large-employers.
HMBG was founded in 2004 by industry veterans Greg Hodges and Peter Mace. The founders partnered with Stone Point in 2013 in order to execute on an acquisition strategy that would help enhance the company through entering additional lines of business. Since that time, HMBG has completed two transformative acquisitions (SmartBen and Continuous Health) and evolved into one of the largest technology vendors and service providers for employee benefits plans in the U.S.
INDUSTRY KNOWLEDGE & NETWORK
Stone Point introduced HMBG to its network of employee benefit brokers and PEOs to generate additional business for the company. Stone Point provided HMBG the opportunity to present at its Employee Benefits Symposium, which resulted in several new client prospects and sales leads.
M&A SOURCING
Stone Point helped source and execute the acquisitions of SmartBen and Continuous Health, which expanded HMBG’s product offerings and helped reposition the company as a leading provider of employee benefit administration technology services.
EXECUTIVE RECRUITING & ALIGNMENT
Stone Point helped expand the management team by recruiting a Chief Technology Officer and Chief Strategy Officer as part of the acquisitions of SmartBen and Continuous Health.
CAPITAL RAISING & STRUCTURING
Stone Point provided funding for the company’s acquisition strategy, which was critical in differentiating HMBG and providing certainty to the sellers. Stone Point led a debt recapitalization for HMBG that was completed in January 2017.
OPERATIONAL ASSISTANCE & GOVERNANCE
Stone Point assisted management with a conversion to GAAP based financial accounting and helped identify opportunities to improve cash collection with certain clients and carrier counterparties. Stone Point helped develop the company’s key performance indicators and dashboards that enabled senior management to more quickly identify key issues and better manage the business.
