Realising a 3.2x multiple on invested capital for Perwyn
We are delighted to announce that we have entered an agreement to exit our holding in Interact Software (“Interact”) to funds managed by Castik Capital.
Headquartered in Manchester, UK, Interact provides a SaaS platform that helps organisations to facilitate internal communication, foster knowledge sharing, and boost employee engagement.
During the investment period the company has grown ARR and EBITDA by >2.5x and serves a broad range of blue-chip customers across North America, EMEA, and the Middle East, with its largest markets being the United States and the United Kingdom.
Mark Deed, Investment Director at Perwyn, said: “We are delighted with this agreement, which reflects the hard work and dedication of the Interact team, on their pursuit to become the leading enterprise employee experience platform.
“The Perwyn culture is underpinned by our desire to work with ambitious teams with global ambitions, and we are proud to have supported the team as they expanded further into the US enterprise market and unlocked strategic acquisitions to extend product capability. Other major milestones included significant investments in people to build out sales capabilities, and the development of new product features to further improve customer experience.
“It has been a privilege to be part of management’s journey, and we have every confidence that the business will continue its growth journey during the next phase.”
The transaction is subject to customary completion conditions.