SVM Global Sells Shares to Parent Company SVM LP
SVM Global, a UK business who are market leaders in gift cards, vouchers and digital eCode rewards and incentive solutions, confirms that the company has now been purchased by US-based parent company, SVM LP, following a share sale process.
This sale now means that the US company will now own 100% of SVM Global shares. SVM LP, is headquartered in Arlington Heights, IL and is celebrating its 20th anniversary. SVM LP, is the only company that offers gasoline gift cards from every major oil company in America, as well as gift cards, award codes and prepaid promotional reward cards.
Founded in 2008, SVM Global is currently based in Rotherham, UK with 75 employees. SVM’s products are used by leading incentive, rewards, loyalty, and other companies to motivate and reward their customers, employees, and prospects.
There will be no major changes to current operations, but the combined company will benefit from new efficiencies and stronger integration created by joining forces. SVM will now offer vouchers and gift cards for more than 500 of the world’s most popular retail stores, restaurants, and services. SVM Global has been serving Europe, Asia, Africa, and the Middle East, and the expanded SVM, LP will now provide gift card incentive solutions worldwide.
“This is an exciting time for our businesses,” said Marshall Reavis, founder and CEO of SVM, LP. “The world is shrinking as the digital landscape grows, so we’re taking this step to become a true global provider of gift cards, vouchers and digital codes for business incentives.”
The combined company is already seeing benefits from working together more closely. Dan Grotto, Executive Vice President, UK, has been improving integrations since the September of 2016, expanding communication and sharing success stories between locations. The company is excited to find more opportunities to help its staff work closely together.