LaSalle Capital gets perfect payments present with National Gift Card acquisition
Chicago-based private equity firm LaSalle Capital has made a positive push in the payments space with the purchase of National Gift Card Corp (NGC), an automated B2B gift card and prepaid card firm.
A Kern gift card fulfilment machine used by NGC (Photo credit: @ryanpisha)
NGC has a B2B loyalty, reward and incentive marketplace with over 500 physical and digital gift card brands across the US, Canada, UK and Europe.
Financial details were not disclosed. LaSalle says the acquisition strengthens its independent gift card sourcing ambitions and brings greater resources for its unspecified five-year expansion plan.
LaSalle says 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,” says 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 programmes.”
There is no news on whether there will be redundancies outside this “core” team.
LaSalle was founded in 1984 and has a diversified portfolio of firms under its belt.
These fintech ones include Brown and Joseph, an Illinois-based provider of commercial accounts receivable management solutions; and Processing.com, a payment services provider in Los Angeles.
Other non-fintech ones include a microgreen and edible flower grower; and a snack cracker maker.
