Platform Partners, a Houston-based private equity firm, teamed up with another Houston firm, Galtney Partners LP, to acquire Beneplace, a private exchange company with headquarters in Austin, Texas.
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Beneplace sets up voluntary benefits enrollment websites for public and private employers around the world. About 9 million people have access to Beneplace websites, the company says.
Beneplace was founded in 1995. Rusty Stein, the president, came aboard in 2012.
Stein will continue to manage the business, according to Fred Brazelton, Platform Partners’ president.