H.I.G. Growth Partners has completed a strategic growth investment in Carlton Group Limited. Financial terms were not disclosed.
H.I.G. Growth Partners is the dedicated growth capital investment affiliate of H.I.G. Capital (H.I.G). H.I.G. Growth Partners makes both majority and minority investments with investment ranging from US $5 million to US $30 million in equity.
Richmond Hill, Ontario based Carlton Group is specializing in the development of SaaS based solutions for global engagement, sales incentive, loyalty and reward management. The company has two operating companies, Power2Motivate (P2M) and Global Reward Solutions (GRS).
Carlton Group will be rebranding under the name “Carlton One Engagement” as it prepares to launch several new initiatives.
“We are very excited to partner with H.I.G. Growth, whose domain expertise, extensive global resource base and international footprint will help Carlton Group continue to build on our tremendous momentum in delivering market leading engagement solutions,” said Carlton’s founder and CEO Rob Purdy.
Nik Shah, Managing Director at H.I.G. Growth, added, “Rob and the entire team at Carlton have built an impressive SaaS engagement technology business and highly differentiated global rewards platform that delivers substantial value to partners and blue chip customers on a truly global basis. We look forward to partnering with Carlton as they continue to bring innovative solutions to market.”
“The investment from H.I.G. not only supports our technology development and new service releases, but it will also help us to accelerate our growth plans through the expansion of our Global Partnerhip Network along with several strategic acquisitions,” added Shah.
The Carlton Group today also announced the release of “Global Benefits” for Global Reward Solutions, which will combine seamlessly into clients’ existing platforms. Power2Motivate will release a Global Wellness module that also connects with wearable technology enabling members to instantly track their success while empowering employers to recognize and reward their members’ hard work.
“Our entire team has carefully built Carlton to be a platform for growth over the last few years, and it is truly gratifying to secure HIG’s expertise as we continue to innovate in ways that we feel will truly revolutionize the markets we serve,” said Purdy.
photo credit: Carlton Group