Clearwater International advises the shareholders of Eudaimon on its sale to Epassi

Clearwater International has advised the shareholders of Eudaimon S.p.A. (Eudaimon), an Italian company active in the corporate welfare sector, on its sale of 100% of its share capital to Epassi Group Oy (Epassi), a Finnish leader in payment and employee service delivery systems, a portfolio company of Bregal Milestone.

Founded in 2002 and headquartered in Vercelli, Eudaimon is the first Italian player active in the corporate welfare sector, developing a complete service offering dedicated to large, medium, and small Italian companies. With €150m of transacted business including 600,000 users and 50 employees, Eudaimon now supports more than 750 Italian companies with the personal needs of their employees, strengthening engagement, and improving purchasing power.

Founded in 2007 in Helsinki, Epassi is a leading payment and employee service delivery system in the Nordic countries, also present in the UK, Ireland, and Poland. The group has 13 million users and manages over 570 million employee benefits. To meet its goals, Epassi invests significantly in technology, with a particular emphasis on the digitisation of its services.

Through this transaction, Epassi, will officially enter the Italian market and acquire the welfare expertise necessary for its forthcoming development, aiming to be a pan-European market-leading player, fostering the growth of Eudaimon at an international level.