HIG Growth Partners sells CarltonOne to GSAM

Private Equity Wire

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.

The full article is available here. This article was published at Private Equity Wire.