Edenred, an Issy-les-Moulineaux, Ile-de-France global platform for people at work, acquired Reward Gateway, a London, UK-based employee engagement company, for £1.15 billion from funds managed by Abry Partners and Castik Capital.
The transaction is expected to close in the coming days.
Together, Edenred and Reward Gateway will bring a differentiated value proposition at scale to the market, by providing end-to-end employee services, from digital employee benefits, employee savings, recognition and rewards programs, to well-being and corporate social animation solutions.
The deal will bring many benefits to Edenred and Reward Gateway clients including accelerated delivery of a comprehensive range of solutions and an extended reach of Reward Gateway’s platform into new regions and countries, as it is planned to be rolled-out in 6 major Edenred countries (Belgium, France, Germany, Italy, Romania, Spain). It will bring Human Resources departments access to a multi-country Employee Benefits and Engagement platform, empowering them to build the right combination of benefits and engagement tools to meet the changing needs of their people and their company.
As part of the deal, Reward Gateway will join the Employee Benefits Division within Edenred under the leadership of Arnaud Erulin, Employee Benefits, COO. Nick Burns, Global CEO, Reward Gateway will stay on and lead the business.
Listed on the Euronext Paris stock exchange, Edenred is part of the CAC Next 20 index with a market capitalisation of over €14.5 billion. The company has 10,000 employees worldwide and generated more than €2.0 billion in revenue in 2022.
With over 4,000 clients in 23 countries, Reward Gateway has over 650 employees across the UK, US, Australia and Bulgaria. It forecasts to generate £95m revenue and £45m EBITDA in FY2023.
FinSMEs
16/05/2023