bd-capital, a pan-European, operator-led investment firm, completed the investment in TLC Worldwide, a global loyalty and rewards company. Financial terms were not disclosed. “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, TLC Worldwide Founder.