Engage2Excel Purchases Rideau Inc.
This merger of two recognition leaders is probably the largest industry merger signaling the potential for more mergers and acquisition activity.
Engage2Excel Group of Companies (E2E Group), a portfolio company of Comvest Partners, has announced the purchase of Rideau, Inc., a global leader of employee recognition solutions, to bolster the company’s career experience platform. Headquartered in Montreal, Rideau provides organizations with an integrated recognition platform that fuels long-term performance by increasing employee engagement and retention.
“Rideau has a rich heritage of recognition expertise and industry-leading technology and reputation in the marketplace, and we are excited about our shared vision for bringing the career experience platform to life,” says Phil Stewart, CEO of E2E Group. “We believe that Rideau’s Vistance Analytics & Learning platform can help managers and leaders measure and improve their ability to recognize others, driving more success for our 3,000+ combined clients.”
For the past 32 years, Peter Hart, President of Rideau, has been the driving force of transforming Rideau into one of the world’s largest recognition and rewards companies. E2E Group is pleased to continue to leverage Hart’s strong leadership abilities. “I couldn’t be more enthusiastic about Rideau joining the E2E Group family of companies,” Hart says. “Our mission has been to build meaningful relationships with powerful recognition solutions, and E2E Group will only help take us to the next level.”
The transaction was financially backed by Comvest, a leading middle market private equity firm. “This investment aligns with Comvest’s strategy to invest in technology-enabled businesses in the human capital management marketplace,” explains Matt Gullen, Partner at Comvest. “We believe that strong tailwinds will continue as organizations increasingly emphasize how they will find and keep their talent, and Rideau represents a highly complementary and strategic addition to E2E Group.” Rideau is expected to continue business as usual under the leadership of Peter Hart, President, while leveraging the assets of E2E Group.
Says Hart: “The plan is to keep the Rideau brand, just as Hinda is part of the E2E group of companies. All companies in the group will leverage each other’s best practices.”
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Mergers and Acquisitions. The Engagement Agency’s Mergers and Acquisition group is aware of multiple companies seeking to purchase firms in the engagement field. Contact Michael Mazer in confidence if your company is potentially for sale at 303-320-3777.
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