Vesdia

• Industry Business Services, Technology
• Type M&A Sell-Side

About
Vesdia is a leading provider of technology-enabled marketing solutions, primarily for managing or enhancing financial institution, retailer, and airline rewards programs. The Company acts as the intermediary between merchants seeking to increase sales volume and loyalty and rewards program providers (banks or other card issuing institutions) seeking to increase “top-of-wallet” behavior among their cardholders.

Situation
Croft & Bender was hired to represent the Company in a recapitalization transaction, allowing shareholders and existing investors to liquidate a portion of their holdings, while also obtaining growth capital to expand the current business. Croft & Bender led the Company through a process that included identifying potential partners, drafting the offering memorandum and related materials, marketing the Company, evaluating offers, selecting a partner, and negotiating the transaction.

Result
Croft & Bender successfully negotiated the recapitalization of the Company with Comvest Partners, a nationally-recognized private equity firm with significant relationships in the loyalty and transaction processing industries. C&B Capital also participated in the transaction.