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Barings Backs Great Hill Partners on Reward Gateway Refinancing(June 13, 2018)
New debt facility will help fuel accelerated growth of U.K.-based employee engagement solutions provider
CHARLOTTE, N.C., June 13, 2018 (GLOBE NEWSWIRE) -- Barings, one of the world’s leading financial services firms, announced that it provided a senior credit facility to support Great Hill Partners LP in refinancing the existing debt of Reward Gateway, a global leader in enterprise employee engagement software. Great Hill Partners acquired Reward Gateway in July 2015.
Founded in 2006 and headquartered in London, Reward Gateway is a leading provider of tech-enabled employee engagement and communication software to businesses across the UK, Australia and USA. The company’s subscription-based technology platform serves HR departments in powering employee benefits, retail discounts, reward & recognition, communications and engagement programmes. Blue-chip clients include DHL, McDonald’s, Travis Perkins and Vodafone.
“Great Hill Partners is very pleased to partner with Barings on our cross-border refinancing. They provided a flexible and scalable financing solution tailored to meet Reward Gateway’s growing capital needs,” said Christopher M. Busby, partner at Great Hill Partners. “Barings’ ability to fund the entire facility combined with their multi-currency capabilities and global approach to financings, provided distinct benefits for both Great Hill Partners and Reward Gateway in completing this transaction in an efficient and timely manner.”
“Barings is grateful to Great Hill Partners for the opportunity to assist in the refinancing of Reward Gateway,” said L. Max McEwen, Managing Director in Global Private Finance at Barings. “Reward Gateway and Great Hill Partners have forged a strong partnership over the past three years.”
Mark Wilton, Managing Director at Barings, added “We see tremendous opportunities for accelerated growth by leveraging Reward Gateway’s leading employee engagement solutions in new and existing markets worldwide. Barings looks forward to supporting the business and Great Hill Partners through the next phase of its growth.”
About Reward Gateway
Reward Gateway helps more than 1,700 of the world's leading companies, in 23 countries, to attract, engage, and retain their best people with an employee engagement platform that brings employee benefits, discounts and perks, reward and recognition, wellbeing, surveys, and communications into one unified hub. Clients include American Express, Unilever, Samsung, IBM, and McDonald’s. For more information, please visit: www.rewardgateway.com.
About Great Hill Partners
Great Hill Partners is a Boston-based private equity firm that has raised more than $5 billion in commitments since inception to finance the acquisition, recapitalization or expansion of growth companies in the internet infrastructure, digital media and marketing services, eCommerce and consumer, healthcare tech and services, financial technology, and software industries. Great Hill targets investments of $25 million to $200 million. For more information, visit www.greathillpartners.com.
Barings is a $305+ billion* global financial services firm dedicated to meeting the evolving investment and capital needs of our clients. We build lasting partnerships that leverage our distinctive expertise across traditional and alternative asset classes to deliver innovative solutions and exceptional service. Part of MassMutual, Barings maintains a strong global presence with over 1,800 professionals and offices in 16 countries. Learn more at www.barings.com.
*As of March 31, 2018