HIG Growth Partners, the dedicated growth capital investment affiliate of HIG Capital, has sold portfolio company CarltonOne Engagement, a SaaS engagement and e-commerce platform, to Goldman Sachs Asset Management.
Headquartered in Markham, Ontario, CarltonOne creates B2B employee recognition, customer loyalty, rewards and sales/channel incentive programmes.
Since first investing in the business in 2017, HIG has overseen the scaling of operational infrastructure, product launches and entering new markets through “tuck-in” acquisition and via the expansion and growth of the financial services category.
According to a press statement, during HIG’s investment, the company grew its revenues approximately 4x and increased its EBITDA over 6x.
Baird, Canaccord Genuity and Paul Hastings advised CarltonOne.
Source:Private Equity Wire
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