DETROIT, Dec. 1, 2016 /PRNewswire/ -- Detroit-based private equity firm Rockbridge Growth Equity, LLC today announced the sale of Purchasing Power, the leading specialty e-retailer offering a voluntary benefit to companies and membership organizations across the country, to Flexpoint Ford, LLC, a private equity firm focused on the financial services and healthcare sectors. Founded in 2001, Purchasing Power is one of the fastest-growing voluntary benefit companies and the leader within the purchase program industry offered through employers. Along with a comprehensive financial wellness platform available at no cost to its customers, Purchasing Power offers an employee purchasing program for name brand consumer products and services using convenient payroll deduction. Available to millions of people as a voluntary benefit at organizations with 1,000+ employees or members, Purchasing Power is offered across more than 20 industry sectors. Its client list includes Fortune 500 companies, associations and government agencies. Since partnering in 2011, Purchasing Power has leveraged Rockbridge's investment to focus heavily on the continued development of its technology platform, optimizing the customer's experience and dramatically increasing its product offering from 400 SKUs to more than 50,000 today. These initiatives helped to more than double Purchasing Power's revenue and triple earnings before interest, tax, depreciation and amortization (EBITDA) during the partnership. "Our strategic partnership with Rockbridge Growth Equity has been extremely valuable for Purchasing Power," said Richard Carrano, President and CEO of Purchasing Power. "Through this collaboration, we have increased our revenue streams, expanded our financial wellness platform and undergone rapid growth and expansion allowing us to provide customers with an even more convenient and stress-free way to purchase the items they need."