Mergers and Acquisitions: Sell Side for S&H Solutions

Background:
Headquartered in Delray Beach, FL, S&H Solutions provides a software loyalty platform that enables retailers to create, manage, and enhance customer loyalty programs and deliver real-time, personalized marketing and shopper insights.  The Company is a descendant of S&H Greenstamps, widely known as the original loyalty marketing program that distributed billions of stamps that consumers collected and redeemed for merchandise.

Cassel Salpeter:
  • Was mandated to sell S&H on behalf of the parent company
  • Ran a competitive sales process, identifying and contacting over 100 strategic and financial parties
Challenges:
  • Potential contingent liabilities
  • Changing business model towards SaaS based revenue
  • S&H business relationship with parent’s other businesses
  • Non-core operation of parent, operating within a rapidly changing technology environment
Outcome: 
In April 2012, S&H Solutions was sold to ProLogic Redemption Solutions, a portfolio company of Marlin Equity Partners and one of the industry’s largest clearinghouses for manufacturer coupons.