Chicago-based private equity firm LaSalle Capital has purchased National Gift Card Corp (NGC, asi/73011), the companies announced on Monday. Financial details of the transaction were not released.
“We’re excited about the growth and strategic opportunities ahead of us with our new LaSalle partners,” Adam Van Witzenburg, CEO of NGC, said in a press release. “We have established the highest levels in quality, security and capacity, serving as the gift card engine for the world’s largest rewards and loyalty programs, and there’s even more we will do with LaSalle as we plan for our expansion.”
LaSalle has acquired all the NGC properties, including the businesses of NGC US, NGC Canada, and NGC Europe. The acquisition also provides NGC additional talent support on its board, greater resources for its five-year expansion planning and other key technology and operational items needed to continue enhancing its best-in-class gift card fulfillment services and reward products for the B2B loyalty and incentive market.
LaSalle announced there are no planned changes with NGC’s core leadership team, or the core offering of services and products it currently provides to its clients and retail partners. “In fact, we’re looking to enhance and accelerate our offering and service capabilities,” said Eric Thiegs, president of NGC. “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.”
The acquisition opens up the incentive market to LaSalle and its portfolio of companies. “Adding NGC to the LaSalle family of businesses will allow us to provide additional services to NGC’s clients and merchants,” said Ryan Anthony, partner at LaSalle. “The NGC team has built an impressive business and we look forward to working with them to accelerate growth.”
Headquartered in Crystal Lake, IL, NGC serves the B2B loyalty, reward and incentive marketplace with over 500 physical and digital gift card brands across the U.S., Canada and Europe.