Chicago-based private equity firm LaSalle Capital has acquired National Gift Card (NGC) for an undisclosed amount.
The deal sees LaSalle acquire all of NGC’s business, which includes its divisions in the US, Canada and Europe. Through the new ownership, LaSalle will provide NGC with additional talent support on its board, greater resources for its next five-year expansion and key technology and operational items to support the development of its offering.
NGC is an a B2B gift and prepaid card and services provider for thousands of corporate and non-profit clients. The company offers plastic and digital e-gift cards for over 450 international brands which include Starbucks, Amazon, iTunes, GameStop, Nike, Target, The Home Depot, IHOP, Applebee’s and Red Lobster, among others.
Following the deal, there are no planned changes to the core leadership team of NGC or its core products and services currently offered.
National Gift Card president Eric Thiegs said, “In fact, we’re looking to enhance and accelerate our offering and service capabilities. Especially as it relates to our gift card API solution; we’re seeing more clients integrate with our API when needing eGift card rewards in real-time for their incentive and loyalty programs.”
Earlier in the year, LaSalle led the recapitalisation of business process management and automation software developer MetaSource. The company supports the financial services industry with as selection of business management and workflow automation services. The company’s technology can help clients to improve its efficiency, streamline processes and manage compliance risk.
Fellow gift card provider Nift closed its own funding earlier in the year, netting $16m for a Series A from Spark Capital, Foundry Group and Accomplice. The company helps 2,000 merchants offer customers deals, creating a healthy local business environment.
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