M&A Deal Summary

Great Hill Partners Acquires Reward Gateway

On July 29, 2015, private equity firm Great Hill Partners acquired internet software and services company Reward Gateway from Inflexion for 140M GBP

Acquisition Highlights
  • This is Great Hill Partners’ 15th transaction in the Internet Software and Services sector.
  • This is Great Hill Partners’ 3rd largest (disclosed) transaction.
  • This is Great Hill Partners’ 2nd transaction in the United Kingdom.
Investment Fate
  • Reward Gateway was sold to a consortium of financial buyers in 2021 for 1.2B GBP.
  • Reward Gateway was sold to a publicly-traded strategic buyer in 2023 for 1.2B GBP.

M&A Deal Summary

Date 2015-07-29
Target Reward Gateway
Sector Internet Software and Services
Buyer(s) Great Hill Partners
Sellers(s) Inflexion
Deal Type Secondary Buyout
Deal Value 140M GBP
Advisor(s) Baird
Cavendish (Financial)
Squire Patton Boggs (Legal)

Target

Reward Gateway

London, United Kingdom
Reward Gateway offers a leading SaaS employee engagement platform that centralizes employee reward and recognition, discounts, communications, surveys, wellbeing, and flexible benefits. Its strategic products support companies with today’s most difficult people challenges, such as the digitization of the workplace, attracting and retaining talent, aligning and supporting remote workforces, and handling complex cultural issues. Reward Gateway was formed in 2006 and is based in London.

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Buyer(S) 1

Buyer

Great Hill Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 12.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Great Hill Partners is a private equity firm focused on growth equity and recapitalization investments in well established public and private companies valued put to $1 billion. Great Hill targets companies within consumer services, business services, financial technology, healthcare, internet, logistics, media, communications, technology services, software and transaction processing. The Firm invests in the range of $25 to $500 million per transaction. Great Hill prefers companies located in the US, but will also consider opportunities in Europe and Latin America. Great Hill Partners was formed in 1998 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 56 of 98
Sector: Internet Software and Services M&A 15 of 32
Type: Secondary Buyout M&A Deals 6 of 15
Country: United Kingdom M&A 2 of 6
Year: 2015 M&A 2 of 5
Size (of disclosed) 3 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-30 AWL

Austin, Texas, United States

AWL is a provider of online marketing services to the insurance industry, leveraging a network of owned and affiliated websites to generate qualified consumer quote inquiries for their licensed agent, broker and carriers clients. AWL was founded in 2005 and is based in Austin, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-18 Evolve IP

King of Prussia, Pennsylvania, United States

Evolve IP provides organizations with a unified option for cloud services, including unified communications, contact center, managed network, and cloud computing technologies. Evolve IP was founded in 2007 and is based in King of Prussia, Pennsylvania.

Buy -

Seller(S) 1

SELLER

Inflexion

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 10.0B GBP
Size Mega
Type Sector Agnostic
DESCRIPTION

Inflexion is a private equity firm that specializes in investments in UK-based founder and family-owned businesses. Broad areas of interest include consumer products/services, business services, healthcare, industrials, technology, and financial services. The Firm's target investment size is £10 to £500 million. Inflexion was formed in 1999 and is based in London.


DEAL STATS #
Overall 21 of 63
Sector: Internet Software and Services M&A 1 of 3
Type: Secondary Buyout M&A Deals 10 of 23
Country: United Kingdom M&A 21 of 62
Year: 2015 M&A 5 of 8
Size (of disclosed) 8 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-28 CTC Aviation Group

Southampton, United Kingdom

CTC Aviation Group Ltd. is a provider of global airline pilot training and crew resourcing specialist that offers customized and innovative solutions to major airlines and retail customers globally.

Sell £143M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-24 Rhead Group

Warwick, United Kingdom

Rhead Group Ltd. is a provider of professional services for the delivery of major infrastructure projects. The business combines traditional fields of quantity surveying with broader services such as technical engineering management and project management.

Sell £36M