Abry Partners and Castik Capital Acquire Reward Gateway

Interopay Acquires Rewardworks

June 7, 2023

Payments & Fintech

Interopay Inc., a Portland-based B2B payment automation company, has acquired Rewardworks, a long-time accounts-payable/payment automation software provider. The deal — executed by Interopay (formed by Rewardworks management and investors) — will integrate Rewardworks' operations into Interopay to accelerate product development, expand customer reach, and enhance ERP-integrated payment solutions for mid-market customers.

Edenred Acquires Reward Gateway

May 16, 2023

Cloud & SaaS

Edenred has agreed to acquire 100% of Reward Gateway from funds managed by Abry Partners and Castik Capital for £1.15bn, valuing the employee engagement SaaS at ~20x EV/EBITDA (2023e). The acquisition expands Edenred’s employee benefits and engagement capabilities and extends Reward Gateway’s footprint in the UK, Australia and the US; Reward Gateway is expected to be consolidated immediately on closing and the deal is financed by debt and cash.

Reward Gateway Acquires Fond

March 1, 2023

Cloud & SaaS

Reward Gateway, a global HR technology and employee engagement company backed by Abry Partners and Castik Capital, has acquired Fond, a U.S.-based employee recognition, rewards and perks SaaS provider. The acquisition strengthens Reward Gateway’s recognition and rewards capabilities and expands its reach into Fond’s enterprise customer base.

Reward Gateway Acquires MoveSpring

March 22, 2022

Cloud & SaaS

Reward Gateway, a global HR technology and employee engagement company, has acquired MoveSpring, a U.S. provider of activity-based wellbeing software. The purchase expands Reward Gateway’s wellbeing capabilities and further integrates activity-based wellness functionality into its global employee engagement platform; financial terms were not disclosed.

Castik Capital and Abry Partners Acquire Majority Stake in Xexec

May 6, 2021

Cloud & SaaS

Funds advised by Castik Capital and Abry Partners have agreed to acquire a majority stake in London-based employee engagement platform Xexec, in partnership with founders Jacqueline Benjamin and Saul Meyer. The private equity backers plan to accelerate Xexec's product innovation, sales & marketing, and support US expansion and bolt-on acquisitions to drive growth.

Reward Gateway Acquires Brand Integrity

July 17, 2018

Cloud & SaaS

Reward Gateway, a global employee engagement platform, has acquired Brand Integrity, a 15-year-old U.S.-based employee engagement technology and consulting firm headquartered in Rochester, New York. The deal more than doubles Reward Gateway's U.S. team, adds new clients (including Rite-Aid, Constellation Brands, and Excellus BlueCross BlueShield), and strengthens Reward Gateway's presence in the U.S. market.