2021

Year

Sell-Side

Transaction Type

Business Services & Technology

Sector

Xexec

Client

Castik Capital & Abry Partners

Acquirer

Xexec | Castik Capital & Abry Partners

finnCap Cavendish, part of financial advisory firm, finnCap Group plc, has today announced it has advised on the sale of a majority stake in Xexec Ltd, a leading employee engagement tech firm, to funds advised by Castik Capital S.à r.l. and leading Boston-based private equity firm, Abry Partners.

Headquartered in London, Xexec is an employee engagement provider that offers a wide range of employee discounts and reward & recognition solutions through its scalable cloud-based platform. The company also offers customer loyalty programs which enables corporate clients to engage with and retain their own end-customers.

Xexec has proven to be a fast growing and dynamic company, doubling its customer base in the past 3 years.

The deal, which was led by John Farrugia, Mike Dinsdale and Sam Kavanagh at finnCap Cavendish will see Castik and Aby Partners jointly acquire a majority stake in Xexec in partnership with its founders and co-CEOs, Jacqueline Benjamin and Saul Meyer.

John Farrugia, Managing Partner at finnCap Cavendish commented: “We are delighted to have advised the shareholders on this successful transaction. This partnership will allow Xexec to accelerate its growth plans, leveraging Abry and Castik’s global expertise and network in the technology sector, strengthen its employee engagement modules, whilst supporting the company’s further US expansion.”

Jacqueline Benjamin and Saul Meyer, founders and co-CEOs of Xexec 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 to us better serve our clients bringing enhanced engagement solutions and additional resources, in particular for sales & marketing, 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.”

Michael Phillips, Partner at Castik commented: “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.”

Key Contacts

John Farrugia

Managing Partner & Head of Technology

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Mike Dinsdale

Associate Director

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Sam Kavanagh

Associate Director

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