Castik Capital and Abry Partners to jointly acquire a majority stake in Xexec, with its founders and co-CEOs Jacqueline Benjamin and Saul Meyer.
LONDON, UNITED KINGDOM, May 7, 2021 /EINPresswire.com/ — Funds advised by Castik Capital S.à r.l. (“Castik”) and Abry Partners (“Abry”), a leading Boston-based private equity firm, have entered into an agreement to jointly acquire a majority stake in Xexec, in partnership with its founders and co-CEOs Jacqueline Benjamin and Saul Meyer.
Headquartered in London, UK, Xexec is an employee engagement provider that offers a wide range of employee discounts and reward & recognition solutions through its scalable cloud-based platform, complemented by an in-house tickets and travel concierge. The company also offers customer loyalty programs which enables corporate clients to engage with and retain their own end-customers. The company’s modular, configurable, and feature-rich platform supplemented by best-in-class platform analytics helps enterprise clients to engage, connect, retain and motivate their employees.
Xexec has proven to be a fast growing and dynamic company, doubling its customer base in the past 3 years. Abry and Castik will support Xexec in accelerating its growth plan through continuous innovation. Leveraging Abry and Castik’s global expertise and network in the technology sector, the partnership will seek to further strengthen Xexec’s employee engagement modules and sales excellence as well as support the company’s further US expansion.
Jacqueline Benjamin and Saul Meyer, said: “Castik and Abry are the ideal partners that truly appreciate the company’s culture and have a profound knowledge of the industry. The partnership will allow us to better serve our clients bringing enhanced engagement solutions and additional resources as we continue to expand our business and pursue bolt-on acquisitions as part of our strategy to accelerate growth. We look forward to our new partnership with the Castik and Abry teams. We commend all our outstanding team members for their commitment in growing the business into the market leader that it is today. We further thank our loyal client base for entrusting the engagement of their most precious assets – their people and customers – into the hands of Xexec.”
“We are thrilled that Xexec will be joining our family of portfolio companies and to have this opportunity to work closely with the founders, Jacqueline and Saul. We are impressed by their journey and look forward to accelerating and promoting Xexec’s ongoing success”, said Michael Phillips, Partner at Castik.
Brian St. Jean, Partner at Abry, said, “We were impressed by what the founders and their team have built over the years given its strong entrepreneurial spirit, its impressive customer client base in particular within professional services, and the attractive growth opportunity in the US market. We are excited to partner with Xexec’s founders and look forward to leveraging our significant expertise in HCM software to support Xexec’s future growth.”
Xexec was advised by John Farrugia, Mike Dinsdale and Sam Kavanagh at Cavendish Corporate Finance (part of the finnCap Group)
Xexec is a London-based HR tech firm that was founded in 2000, with an additional office in the U.S.
Xexec helps many of the world’s leading companies, to attract, engage, and retain their best people with its tech-enabled employee engagement and customer loyalty solutions. It offers a full suite of award-winning employee discounts and reward & recognition solutions, complemented by an in-house tickets and travel concierge. For more information please visit https://www.xexec.com/
Castik Capital S.à r.l (“Castik”) manages investments in private equity. Castik is a European multi-strategy investment manager, acquiring significant ownership positions in European private and public companies, where long-term value can be generated through active partnerships with management teams. Founded in 2014, Castik is based in Luxembourg and focuses on identifying and developing investment opportunities across Europe. The advisor to Castik is Castik Capital Partners GmbH, based in Munich. Investments are made by the Luxembourg-based fund, EPIC II, the second fund managed by Castik, which had its final fund close of €1.25bn in October 2020. For more information on Castik, please visit https://www.castik.com/
About Abry Partners
Abry is one of the most experienced and successful sector-focused private equity investment firms in North America. Since its founding in 1989, the firm has completed over $82 billion of leveraged transactions and other private equity or preferred equity placements. Currently, the firm manages over $5 billion of capital across its active funds. For more information on Abry, please visit https://www.abry.com/