British software company bought by private equity firm

Wed, 29 Jul 2015 | BUSINESS SALE

US private equity firm Great Hill Partners has bought Reward Gateway, a British software firm which helps companies to reward their staff.

Reward Gateway was owned by Inflexion Private Equity but the firm chose to sell to the US company in the end, but there was significant levels of interest from trade buyers too.

Glenn Elliot, chief executive and founder of Reward Gateway, told Reuters that Reward Gateway was the clear choice, noting that they stood out from a number of potential purchasers and investors due to their technological expertise, understanding of the human resources sector and US presence.

He added: “They got us straight away; they understand the opportunity.”

There is also a good chance that Great Hill will help the company to target new markets and expand into areas such as Latin America.

The business sale values Reward Gateway at £140 million. Because the management and employees in the firm hold a 40 per cent stake, they will receive a windfall that will see all of the 269 employees below board level take a share of around £6.5 million.

Mr Elliot told the news source that he plans to stay with the business after increasing his own stake to around 28 per cent.

View other technology businesses for sale or read our latest feature article looking at the rise of niche technology acquisitions.

Share this article

Latest Businesses for Sale

Indoor Trampolining Adventure Park
Telford, Shropshire, West Midlands, UK

Indoor trampoline park offering a wide variety of activities including, dodgeball, battlebeam, jump tower, interactive wall, bouldering wall, inflatables, Ninja warrior, basketball, toddler area, mini football pitch, dance school, tricking classes, s...

Asking Price: £950,000
Turnover: £1,000,000


Assets of a Removal Company (Fast Sale)
UK Wide

Viewing: Thursday 23 May 2019 between 9am and 12 Noon. (By appointment only). Closes From 12 Noon Tuesday 28 May 2019.

Asking Price: Offers Invited
Turnover: < £500k

Recruitment Agency
UK Wide

Formal offers for the business as a whole to be received no later than 12 noon on Friday 24 May 2019. An opportunity exists to purchase the business and assets of a Recruitment Agency Start-up Business.

Asking Price: Offers Invited
Turnover: £381,186

View more businesses for sale

News Search

Latest News


Greater Manchester staffing firm acquires security services company | BUSINESS SALE

A security services business headquartered in Newton-le-Will...


Midlothian IT company enters administration with assets up for sale | ADMINISTRATION

An Edinburgh-based IT firm has collapsed into administration...


Logistics recruiters and distributors snaps up Birmingham-based counterpart | BUSINESS SALE

Challenge TRG Group, headquartered in Wigan, has successfull...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide


Related News


Hotcourses business sale collapses | BUSINESS SALE

The sale of Hotcourses to Inflexion Private Equity has colla...


FDM Group sale process to begin in autumn | BUSINESS SALE

FDM Group, an IT services provider with many household name ...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources