HgCapital LLP acquisition of Benevity

HgCapital LLP, a U.K. private equity firm, acquired Benevity, a Calgary-based software company. The transaction is the largest in the environmental, social and governance (ESG) space and is the largest software deal completed in Canada in the last decade. The transaction value has not been disclosed.

Existing shareholders include current Benevity management and employees, as well as U.S.-based private equity firms JMI Equity and General Atlantic. The management team will retain an interest in the company following the closing of the transaction, which occurred in January 2021. 

Founded in Calgary in 2008, Benevity provides a corporate social responsibility platform, giving companies and nonprofits access to a range of employee engagement, workplace giving and grant management products and programs.

Norton Rose Fulbright Canada LLP advised Benevity with a team including
Justin E. Ferrara
Katherine Prusinkiewicz,

Daniel E. Steiner,
Kassy Corothers,

Andrea Lejay,
Connor Kense,

Hayley Ha,
John Ebbels,

Dion J. Legge,
Brian Milne,

Etienne Godel,
Ruoxi Wang,

John Cassell,
Matthew Longstaff,

Elizabeth Williams,
Rujuta Patel,

Thomas J. Moran,
Nathan Jones

Paul, Weiss, Rifkind, Wharton & Garrison LLP advised General Atlantic.

Skadden, Arps, Slate, Meagher & Flom LLP advised HgCapital.

Blake, Cassels & Graydon LLP acted as Canadian counsel to HgCapital with a team including
Chris Harris,
JP Bogden,

Michael Kariya,
Evan Herbert,

Patrick Whitehill,
Garett Morin,

Erik Fleming,
Austin Beck (corporate),

Alexandra Luchenko (litigation regarding court plan of arrangement court process),
Cassandra Brown,

Joe McGrade (competition),
Dan Jankovic,

Elsaghir Ahmed (tax),
Birch Miller,

Lindsey Knibbs (employment),
Sean Maxwell (pensions/benefits),

Andrew Kolody,
Jacqueline Shinfield,

Aaron Zambonin (financial services),
Robert Percival,

Daniel Quainoo (technology),
Chris Hunter,

Ankita Kapur (intellectual property),
Jay Geers,

Graham Fulton (real estate).

See the press release here.