Carlton Group has received an undisclosed investment from HIG Growth Partners, an affiliate of U.S. private equity firm HIG Capital. Based in Toronto, Carlton delivers software-as-a-service (SaaS) solutions to the global employee recognition, performance, loyalty and reward management industries. It plans to rebrand under the name Carlton One Engagement as it prepares to launch several new initiatives, Carlton Founder and CEO Rob Purdy said. The partnership with HIG Growth will support the new strategy and help accelerate the company’s growth plans, which will include strategic acquisitions.
Carlton Group Receives Investment from H.I.G. Growth Partners to Support Continued Rapid Development
New releases for Power2Motivate and Global Reward Solutions on tap
Rebrand as ‘Carlton One Engagement’ announced
TORONTO, Dec. 6, 2017 /PRNewswire/ — Carlton Group, a rapidly growing global technology company specializing in the development of SaaS based solutions for global engagement, sales incentive, loyalty and reward management via its two operating companies, Power2Motivate (P2M) and Global Reward Solutions (GRS), today announced the closing of a strategic growth investment from H.I.G. Growth Partners, the dedicated growth capital investment affiliate of H.I.G. Capital (H.I.G).
H.I.G. is the largest private equity investor in the U.S. and Europe focused on the lower end of the middle market and has invested in and managed more than 200 investments worldwide, with combined sales in excess of $30 billion.
“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.”
Carlton Group will be rebranding under the name “Carlton One Engagement” as it prepares to launch several new initiatives, according to Purdy.
“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,” he added.
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.
About Carlton One Engagement
Carlton, headquartered in Toronto, is a leading provider of a suite of engagement and reward technology solutions encompassing a global end-to-end platform that power employee recognition, sales and channel incentive, and customer loyalty programs for a blue-chip customer base. The Company’s two business segments, include Power2Motivate (P2M), a SaaS enterprise engagement software for motivating, measuring, and rewarding desired behavior, and Global Reward Solutions (GRS), a global reward platform with over 600 suppliers across more than 180 countries and territories.
For more information, visit www.carlton.ca/
About H.I.G. Growth Partners
H.I.G. Growth Partners is the dedicated growth capital investment affiliate of H.I.G. Capital, a leading global private equity investment firm with $24 billion of equity capital under management.* We seek to make both majority and minority investments in strong, growth oriented businesses located throughout North America, South America and Europe. We consider investments across all industries, but focus on certain high-growth sectors where H.I.G. has extensive in-house expertise such as technology, healthcare, internet and media, consumer products and technology-enabled financial and business services. H.I.G. Growth Partners strives to work closely with our management teams to serve as an experienced resource, providing broad-based strategic, operational, recruiting and financial management services from a vast in-house team and a substantial network of third-party relationships. For more information, please refer to the H.I.G. website at www.HIGgrowth.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.
Photo courtesy of Carlton Group Ltd