Longshore Capital Partners and LaSalle Capital have sold National Gift Card to Blackhawk Network. No financial terms were disclosed. Based in Crystal Lake, Illinois, NGC is a tech-enabled provider of prepaid card solutions.
Longshore Capital Partners (“Longshore”), in conjunction with LaSalle Capital, is pleased to announce the sale of its portfolio company, National Gift Card (“NGC” or the “Company”), to Blackhawk Network (“Blackhawk”), a global branded payments provider. NGC, headquartered in Crystal Lake, IL, is a leading provider of technology-enabled prepaid card solutions.
NGC’s CEO, Adam Van Witzenburg, commented, “Working with the Longshore team was tremendously rewarding. They helped us execute on a shared strategic plan, resulting in a successful exit for the shareholders, including management.”
Under Longshore’s ownership, NGC accelerated topline growth, completed a key acquisition, added management depth, and built out technology and infrastructure. Ryan Anthony, Partner at Longshore, commented, “I am proud to have been a part of the last two years at NGC. During that time, the team accomplished an extraordinary amount and transformed into a very unique asset in the space.”
About Longshore Capital Partners
Longshore Capital Partners is a middle-market private equity manager investing out of its inaugural $210 million fund. Longshore focuses on control positions in services businesses in North America with between $5 million and $15 million of EBITDA. The team has extensive experience partnering with founders and management of businesses in the lower middle-market and brings a systematic approach to creating shareholder value by helping to execute on a shared strategic plan.