Engage2Excel Inc has acquired Rideau Inc, a Montréal-based integrated recognition platform that supports employee engagement and retention.
Terms weren’t disclosed for the deal, which was backed by U.S. mid-market private equity firm Comvest Partners.
Comvest acquired Engage2Excel, a Statesville, North Carolina-based provider of employee recognition and engagement, sales incentives, talent acquisition and consumer loyalty solutions and services, in 2018.
Established in 1912, Rideau is expected to continue operating in its existing form, while leveraging the assets of Engage2Excel.
Engage2Excel Announces the Addition of Rideau, Inc.
STATESVILLE, NC, April 30, 2019 /CNW/ – Engage2Excel Group of Companies (“E2E Group”), a portfolio company of Comvest Partners (“Comvest”), has announced the addition of Rideau, Inc. (“Rideau”), a global leader of employee recognition solutions to bolster its career experience platform. Headquartered in Montreal, Rideau provides world-class organizations with an integrated recognition platform that fuels long-term performance by increasing employee engagement and retention.
“Rideau has a rich heritage of recognition expertise and industry-leading technology and reputation in the marketplace, and we are excited about our shared vision for bringing the career experience platform to life,” said Phil Stewart, CEO of E2E Group. “We believe that Rideau’s Vistance Analytics & Learning platform can help managers and leaders measure and improve their ability to recognize others, driving more success for our 3,000+ combined clients.”
For the past 32 years, Peter Hart, President of Rideau, has been the driving force of transforming Rideau into one of the world’s largest recognition and rewards companies. E2E Group is pleased to continue to leverage Hart’s strong leadership abilities. “I couldn’t be more enthusiastic about Rideau joining the E2E Group family of companies,” said Hart. “Our mission has been to build meaningful relationships with powerful recognition solutions, and E2E Group will only help take us to the next level.”
The transaction was financially backed by Comvest, a leading middle market private equity firm. “This investment aligns with Comvest’s strategy to invest in technology-enabled businesses in the human capital management marketplace,” said Matt Gullen, Partner at Comvest. “We believe that strong tailwinds will continue as organizations increasingly emphasize how they will find and keep their talent, and Rideau represents a highly complementary and strategic addition to E2E Group.”
Rideau has many locations in Canada, including Montreal, Ottawa, Toronto, Edmonton and Vancouver, as well as offices in New York, France, and Bangalore, India. Rideau is expected to continue business as usual while leveraging the assets of E2E Group.
About E2E Group
E2E Group is a leading provider of employee recognition and engagement, sales incentives, talent acquisition and consumer loyalty solutions and services. Headquartered in Statesville, North Carolina, E2E Group’s solutions focus on attracting, retaining, and engaging both employees and customers to increase productivity and profitability. E2E Group maintains relationships across a diversified client base ranging from Fortune 100 companies to small and medium-sized businesses. The organization now consists of Engage2Excel, Inc. and Engage2Excel Recruitment Solutions (www.engage2excel.com), Hinda Incentives and Loyalty Group (www.hinda.com), and Rideau, Inc. (www.rideau.com).
About Rideau, Inc.
Rideau leverages their century of experience in the recognition industry to reinvent the human capital landscape with a true Return on Recognition. Built upon award-winning, state-of-the-art technology and validated by years of scientific research, Rideau’s new approach to employee recognition is transforming the use of recognition analytical data. With the use of proprietary analytics, Rideau can identify real-time opportunities to increase employee engagement, employee retention, and customer satisfaction as well as identify the concrete, measurable return on investment that yields lower recognition program costs. For more information, please visit www.rideau.com.
About Comvest Partners
Comvest Partners is a private investment firm providing equity and debt capital to middle-market companies across North America. Since its founding in 2000, Comvest has invested over $4.0 billion in 185 companies. Today, Comvest’s funds have over $3.2 billion of assets under management. Through our extensive capital resources and broad network of industry relationships, we offer our companies financial sponsorship, critical strategic and operational support, and business development assistance. For more information, please visit www.comvest.com.
For further information: Daniel Torchia, 416-275-2151, firstname.lastname@example.org