US-based private equity firm Abry Partners and global benefits and engagement company Edenred have closed a deal to become equity partners in Edenred Pay North America, a spin-off from Edenred that now operates as a stand-alone company. Edenred Pay North America was built on acquisitions—Corporate Spending Innovations ($600 million in 2019) and IPS (undisclosed sum in 2022). Abry has invested an initial $75 million in cash in the Edenred Pay B2B payment automation platform. Further investments from Abry and Edenred are expected to help the already profitable Edenred Pay accelerate grow...