When UK-based foodservice & hospitality tech company, HGEM, joined Volaris in May 2023, they were already on a strong trajectory. In 2024, they hit new heights – delivering substantial double-digit growth driven by a strategic product relaunch, a sharpened customer-focus, and a team energized by alignment and long-term vision.
With clearer goals and clearer roles, progress wasn’t left to chance; it was the result of deliberate choices and focused execution.
We sat down with Steven Pike, Managing Director of HGEM, to reflect on what made the year so successful, how the team stayed true to their culture, and what it means to grow with intention.
Background
Can you share some context around the decision to sell—and why Volaris felt like the right fit?
We had a lot of ideas and a strong sense of continuity we wanted to maintain. When we looked at Volaris, the long-term, forever-invested model really resonated. We didn’t want a buyer who would flip the company or disrupt our team dynamic.
Volaris offered stability and the opportunity to be part of a broader network where we could learn, grow, and develop – without losing our identity.
What impact did the acquisition have on your customers and employees?
From a customer and employee perspective, it was very much business as usual. That consistency mattered.
Internally, there were new things to absorb – new metrics, different terminology. With any acquisition, there’s a cultural risk, but we’ve been thoughtful about preserving our voice and way of working, while gradually incorporating helpful structures that support our growth.
Volaris’ metrics and benchmarks, for example, have helped us build a shared language and connect those metrics to the part each employee plays in driving HGEM’s success. Having that balance of autonomy, combined with clear comparisons to other businesses, has worked really well for us.
2024: A Breakout Year Fueled by the HGEM Team
How have you approached talent development across HGEM?
We’ve always cared deeply about developing our people, but we’ve become more structured and deliberate in how we approach it.
Within HGEM, and across our entire Foodservice & Hospitality portfolio, we’ve implemented a framework that helps us set and align goals at the company, department, and individual level. We review them regularly, and it’s helped us cascade business strategy to all levels and make sure everyone is connected.
We also prioritize 1:1s, constructive feedback, and personal development plans. Those touchpoints make sure people are supported and progressing. Being able to take a long-term view on our future helps with individual growth because it allows us to keep our talent engaged and here for the long term.
Our team retention has remained steady since the acquisition, and I think this approach has played a big part in that. It’s refreshing to build your team from within and create real opportunities for people to grow. When people see how they fit into the bigger picture, it gives them a reason to stay and a path forward.
What other factors came together to drive HGEM’s growth and momentum over the past year?
Several things came together. Some momentum was already in the pipeline – a large client we brought on in 2023 really hit their stride this past year. We also saw greater visibility of the HGEM brand, and where we were being promoted helped accelerate that.
Some other things had a real impact:
- We relaunched our product. This gave us the opportunity to reposition in the market. It helped shift the narrative around the problems we solve and the value we offer. That’s made it easier to attract new clients while also deepening relationships and strengthening retention with existing ones.
- We doubled down on our existing customers. The product relaunch sparked deeper conversations with our clients and helped us stay closely aligned to their needs. A significant portion of our growth came from existing clients and back-to-base efforts. Strengthening those relationships and continuing to deliver value has been just as important as winning new business.
- Our events strategy matured. Over the last few years, we’ve been experimenting to find what sticks, and as a result our events have evolved to become more strategic. We pair them with strong content and invite clients to take part, which helps solidify those relationships while creating a more authentic and trusted environment for prospects to engage.
- We tapped into professional services as a revenue stream. This was a strategy we’ve been able to develop more strategically as part of Volaris. Being within the broader network gave us exposure to examples and best practices that strengthened our confidence in charging for the value we provide. As a result, we’ve considerably grown our professional services over the last year – a shift we’ve been able to own and shape for HGEM.
- Our pricing strategies continue to evolve. Pricing has always been a focus at HGEM, but the Volaris network has helped strengthen our confidence in these strategies. Hearing other leaders share their approaches has been helpful in validating our direction, and those shared insights have helped to reinforce the value we deliver while opening new opportunities for growth.
Up Next
HGEM’s progress has been led by a focused and committed team; with Steven guiding them, his leadership has made a meaningful impact both at HGEM and throughout the broader portfolio.
Having a leader like Steven join our Foodservice & Hospitality portfolio has been a real win. He’s deeply passionate about what he does whether it’s HGEM’s customers, his team, or how the product evolves. That energy is contagious, and it adds so much to our broader community.
—Clint Tyler, CEO of CaterTrax
Behind the scenes, Volaris resources – peer networks, practical tools and frameworks, and dedicated functional support from across Volaris – have played a supporting role in helping HGEM scale with greater clarity and confidence.
Want a closer look at the support behind the scenes? Read Part 2 here.
