Codex Capital is backing the merger of Any Card, Lifestyle and Savvy into a new group called Norell in the gift card, reward and incentive market. The combined group generates more than £100m in revenue and serves over 2,000 corporate clients across the UK, Europe and North America.
Each business will retain its own brand and team under the Norell parent group. Codex's investment will fund improvements to technology, content and service capabilities across international markets.
The businesses have processed over $8 billion in card value across 45 countries and 33 currencies. Norell values the global gift card market at $1.5 trillion in 2026, projecting it will reach $2.2 trillion by 2034. Codex Capital, Any Card, Lifestyle and Savvy will operate under the Norell parent group, maintaining their brand identities and specialist capabilities.
Source: PE Hub · Summarized by HeadlinesBriefing