June 14, 2024

Howden strengthens its global employee benefits business with the addition of Compensa in Spain

International Howden Broking Group (Howden), continues to grow its global employee benefits operation by acquiring a 60% shareholding in Spanish firm, Compensa Capital Humano (Compensa).

Compensa operates in both in its home country of Spain and Mexico. The business is widely recognised as the leading Flex provider in the Spanish market and as specialists in compensation and benefits communication.

With 15 years of experience, Compensa has offices in Barcelona, Mexico City, Madrid and Palma. The business has an impressive client portfolio that includes a number of IBEX 35 names and top international corporations. Compensa’s specialist team of 100 benefits professionals provides services to 450,000 employees in more than 190 businesses, across 25 countries.

Salvador Marín, Divisional CEO, Howden Iberia said: “The acquisition of 60% of Compensa will allow us to become a leader in employee benefits in the Spanish market, a key area of strategic growth for Howden.’’

Carlos Delgado, President of Compensa commented: “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.”

Glenn Thomas, Global Employee Benefits Practice Leader, Howden added: “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.”