Hodges-Mace, an Atlanta-based employee benefits and custom enrollment services company, has been acquired by Alight Solutions, a Lincolnshire, Ill.-based business process outsourcing company with a focus on health, wealth, human resources and finance. Financial terms of the deal were not disclosed.
Thanks to the acquisition, Alight will use Hodges-Mace's tech to further meet the needs of employers, including employers smaller than what Alight has traditionally served. The company will also utilize Hodges-Mace's partnerships with consultants, brokers and carriers to grow its health and voluntary benefits tech.
Peter Mace, co-founder and co-CEO of Hodges-Mace, said the company does not expect to downsize its team of more than 270 employees or move offices following the acquisition. Alight has a local office in Vinings.
"Both Alight and Hodges-Mace have been successfully growing their customer bases over the years, and we expect that to continue at an even faster pace as we bring the organizations together," he said.
There have been no decisions to rebrand the companies at this time, Mace said. Mace and his co-founder and co-CEO Greg Hodges will continue to lead the company. Once the transaction closes, Kevin Andrews, president and CTO, and Ron Shah, chief financial and operations officer, will keep their positions.
"Hodges-Mace will continue to operate under a 'business as usual' mantra for the remainder of the year, and then we’ll evaluate a branding strategy that makes sense for the long term," he said.
Founded in 2004, Hodges-Mace delivers health benefits administration tech and services to more than 500 U.S. employers to accommodate more than 1.2 million benefit-eligible employees. Its tech platform SmartBen allows employees to enroll in, shop for and manage their core and voluntary benefits. The company also offers one-to-one advisory sessions for annual enrollment, new hire onboarding and more.
"Alight has been deliberate about creating an integrated health experience that enables employees to access health coverage, navigate complexity and focus on their wellbeing, while also improving overall affordability," Chris Michalak, CEO of Alight Solutions, said in a statement. "Through our Compass Healthcare Navigation solutions, Smart-Choice reimbursement accounts and the latest addition of Hodges-Mace, we will be able to bring Alight's industry-leading capabilities to an even broader set of employers to help their people make better healthcare decisions to get the most out of their benefits."
