Wheatley employee engagement business secures PE investment
Wheatley-based employee engagement company peoplevalue has received private equity investment from Ethos Partners. This investment has supported the management buyout (MBO) of peoplevalue and given the business the opportunity to embark on its next phase of growth.
With many businesses adopting a hybrid approach to work and workforces becoming increasingly dispersed, the need for powerful employee engagement technology will only increase.
With almost twenty years’ experience in the industry and more than 15 years of uninterrupted growth, peoplevalue wants to build on its success. Founder Mike Morgan and CEO Andy Caldicott and the Management Team sought the backing of investors to take the business through its next phase of growth.
To support the growth plans some organisational changes have been announced including the appointments of Andy Caldicott, formerly MD at peoplevalue, as CEO, Chris Chambers, formerly MD of Remus Rewards, as COO and David Jay, a new member to the peoplevalue team, as CFO. Mike Morgan, Founder of peoplevalue, will remain involved as a member of the Board.
Andy said: “The team at peoplevalue is passionate about helping businesses engage their teams, members or customers and we are proud to be able to partner with many of the UK’s leading businesses to do this together. The Ethos investment and partnership will enable new opportunities for both our employees and clients as we continue to innovate and bring new technologies to the engagement market. We are all very much looking forward to the next period of our company’s development and working closely with Ethos Partners.”
Mike said:“peoplevalue has grown organically over the last 20 years to become recognised in our industry as one of the leading providers of SaaS based solutions to support business’ engagement strategies. I am delighted by the partnership we have formed with Ethos who recognised the potential of the business from the outset. Ethos was an obvious choice with a pedigree in helping businesses achieve their true potential and we look forward to a successful and exciting future together”.
Pascal Wittet, Partner at Ethos, added: “The market for technology-led employee engagement solutions is growing at an attractive rate and will become more crucial to organisations in a world of distributed workforces in which working from home is increasingly accepted. Mike, Andy and the PeopleValue team have built a successful business that is highly regarded by its customers. We look forward to working with Andy and the wider management team to help deliver the next stage of growth and we are delighted to have given our private investors the opportunity to participate in this exciting journey.”
The following parties supported the transaction: BDO, Latitude Consulting, Polestar and Harrison Clark Rickerbys.
