Investment in TLC Worldwide by bd-capital

BDO.LiveSite.Deals.DealTypePrivate Equity & Transaction Services
BDO.LiveSite.Deals.IndustryRetail & Consumer & Technology & Media
BDO.LiveSite.Deals.SubIndustryMarketing services & Retail
BDO.LiveSite.Deals.ClientNameTLC Worldwide
TLC Worldwide (“TLC”) is a global market leader in tech-enabled, experience-based reward campaigns and loyalty programmes. The company is headquartered in London, UK, and has office hubs in 14 countries across EMEA, the Americas and APAC, employing over 350 people.

BDO provided financial and tax vendor due diligence, and tax support to the company ahead of their investment from bd-capital, a private equity firm focused on the tech-enabled services, healthcare, and consumer sectors.

The BDO project team included:
Conor Lambert, Lewis Winston, Iona Stevenson, Guy Davies, Ben Brown, Chris Grove, Tom Wright  (Financial due diligence)
Sam Boundy, Will Searle, Amy Hoare (Tax due diligence) 
Carol Hindle, Harry McElligott (Tax sell-side) 


“33 years after founding the business in 1991, I am immensely proud of what TLC has become. The business is the global leader in experience-based rewards and is set to continue growing strongly. I am particularly proud of our culture which is the foundation on which the business has been built. I look forward to seeing the team flourish as the company moves into the next chapter, in partnership with bd-capital.”

Nick True, Founder, TLC Worldwide


In an ever more challenging and restrictive climate for brands to link in with their consumers, the value of a good deal remains, with TLC Worldwide tapping into this through its unique offering of reward campaigns and loyalty programmes to major global players.  This is a major completion in a what has been a slow market and it was great for our specialist TMT team at BDO to work with Cannacord Genuity Results, CIL and the team at TLC, as well as bd-capital to see this to a successful conclusion.   We continue to enjoy working with high growth globally focused businesses looking to improve the links between brands and consumers.  Best of luck to bd-capital and TLC on the next stage of their journey together!

Conor Lambert, Partner, BDO LLP