The Riverside Company has invested in GiveAnything.com (dba CorporateRewards), a facilitator of incentive, recognition and wellness programs.
CorporateRewards provides its clients a software platform that allows them to administer, manage and track their employee incentive programs. Using a universal gift card reward, participants in CorporateRewards’ programs can select from hundreds of retailers and millions of products. Corporate Rewards has more than 150 clients globally, including many Fortune 500 companies. The company is based in New York (www.corporaterewards.com).
“CorporateRewards has a long track record of growth thanks to its exceptional service and compelling value proposition,” said Riverside Managing Partner Loren Schlachet. “We expect to build on that by investing in additional resources to help them serve the market even better.”
Employee incentive programs have become increasingly popular, as research has proven that non-monetary rewards can engage employees and agents and drive improved performance more effectively than cash. Programs like those that CorporateRewards provides are particularly effective for encouraging wellness program participation and other employee engagement efforts.
“CorporateRewards is addressing critical customer needs,” said Riverside Principal Alan Peyrat. “And it’s doing so with the best technology possible. Its cloud-based system provides real-time data and is robust and flexible. It’s an impressive package.”
Working with Messrs. Schlachet and Peyrat on the transaction for Riverside were Assistant Vice President Brad Resnick and Associate Grady McConnell. Origination Principal Jim Butterfield sourced the transaction for Riverside.
Deerpath Capital Management (www.deerpathcapital.com) provided debt financing for the transaction and Jones Day and Deloitte advised Riverside. MHT Partners, a Dallas-based investment bank (www.mhtpartners.com), served as the exclusive financial advisor to Corporate Rewards.
The Riverside Company is a private equity firm focused on the smaller end of the middle market (“SEMM”). Riverside specializes in investing in SEMM companies (those valued up to $200 million) and partners with management teams to build companies through acquisitions and value-added growth. Since 1988, the firm has invested in 300 transactions with a total enterprise value of more than $6 billion. The firm is headquartered in New York with additional offices in Atlanta, Chicago, Cleveland, Dallas, Los Angeles, San Francisco, and London (www.riversidecompany.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 1-8-13