Perkbox has entered into an agreement to acquire electric vehicle salary sacrifice provider Loveelectric.
Since launching in 2021, Loveelectric now works with more than 1,500 employers and has over 125,000 employees. It has B Corp status and carbon neutral accreditation.
After the currently pending transaction has completed, the aim is to bring a more deeply integrated technology-led electric vehicle (EV) benefit to more organisations and employees across the UK, allowing them to offer and manage EV salary sacrifice alongside their wider benefits.
It is hoped that the combination of Perkbox’s platform and Loveelectric’s capability will offer a benefit that contributes to sustainability commitments while delivering value to employees. It also supports Perkbox’s aim to provide everyday, easy to use tools for employees that are also straightforward for HR teams to administer.
This follows the launch of Perkbox’s unified employee experience platform in early September and supports its continued evolution.
Doug Butler, chief executive officer (CEO) of Perkbox, said: “I am thrilled to the welcome Loveelectric to Perkbox and equally excited to add its impactful offerings to our unified platform. Steve and team have grown Loveelectric into a formidable business providing meaningful benefits to employees and the environment, and I know that their innovative and passionate culture will greatly contribute to Perkbox’s own mission to ensure that every employee is valued.”
Steve Tigar, founder and CEO of Loveelectric, added: “I’ve long admired Perkbox, and I am thrilled that Loveelectric will now join a company whose mission and purpose align so closely with our own. I’m incredibly proud of what the Loveelectric team has achieved. With access to over four million employees across the UK, Perkbox is the perfect partner for our next phase of growth. With Perkbox we can dramatically accelerate the adoption of electric cars by helping businesses offer a benefit that is both financially compelling and environmentally meaningful.”
