B2B gift card and prepaid card company National Gift Card Corp has been acquired by Chicago-based private equity firm LaSalle Capital. With the acquisition, LaSalle gains all of NGC's business, including NGC US, NGC Canada and NGC Europe.
LaSalle announced that there are no changes planned for NGC's core leadership team, or the services and products it currently provides to its clients and retail partners, with more than 500 physical and digital gift card brands throughout North America and Europe. The organizations emphasized that the acquisition would instead provide NGC with additional talent and greater operational and technological resources to encourage further growth and expansion.
"We're excited about the growth and strategic opportunities ahead of us with our new LaSalle partners," said Adam Van Witzenburg, CEO of National Gift Card, in a statement. "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."
The announcement comes following several growth moves by NGC, including last year's launch of an updated application program interface and purchase of two first-of-their-kind fulfillment machines.
Eric Thiegs, president of National Gift Card, also emphasized that the acquisition would serve as a growth opportunity for the brand.
"We're looking to enhance and accelerate our offering and service capabilities," he said. "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."
Ryan Anthony, partner at LaSalle Capital, stated that the addition of NGC would allow the private equity firm to "provide additional services to NGC's clients and merchants" and help the organization to accelerate its own growth.