Nuvei Corporation, a global payment firm, plans to privatize its operations in a deal led by Advent International, a private equity investment firm. This all-cash transaction is valued at approximately US$6.3 billion.
Under the terms of the agreement, Nuvei’s shareholders will receive US$34 per share in cash. With a focus on providing modular, flexible, and scalable solutions, Nuvei’s global footprint spans over 200 markets. The company offers more than 680 payment methods.
Fayer Remains CEO
Philip Fayer, Nuvei’s Chair and Chief Executive Officer, will continue to lead the company, ensuring continuity in its strategic direction and operations. According to the press release, Advent aims to support Nuvei’s growth trajectory and capitalize on emerging opportunities in the payments industry.
Fayer mentioned: “This transaction marks the beginning of an exciting new chapter for Nuvei, and we are glad to partner with Advent to continue to deliver for our customers and employees and capitalize on the significant opportunities that this investment provides.”
The proposed transaction has reportedly garnered strong support from Nuvei’s shareholders, including Philip Fayer, Novacap, and CDPQ, who collectively represent a significant portion of the voting power. The transaction is subject to shareholder approval, with an expected completion timeline towards the end of 2024 or the first quarter of 2025.
Shareholders’ Support and Transaction
Bo Huang, the Managing Director at Advent, added: “Our deep expertise and experience in payments give us conviction in the opportunity to support Nuvei as it continues to scale from its base in Canada as a global player in the space. We look forward to collaborating closely with Nuvei to capitalize on emerging opportunities to help shape the future of the payments industry.”
Nuvei Corporation, a global payment firm, plans to privatize its operations in a deal led by Advent International, a private equity investment firm. This all-cash transaction is valued at approximately US$6.3 billion.
Under the terms of the agreement, Nuvei’s shareholders will receive US$34 per share in cash. With a focus on providing modular, flexible, and scalable solutions, Nuvei’s global footprint spans over 200 markets. The company offers more than 680 payment methods.
Fayer Remains CEO
Philip Fayer, Nuvei’s Chair and Chief Executive Officer, will continue to lead the company, ensuring continuity in its strategic direction and operations. According to the press release, Advent aims to support Nuvei’s growth trajectory and capitalize on emerging opportunities in the payments industry.
Fayer mentioned: “This transaction marks the beginning of an exciting new chapter for Nuvei, and we are glad to partner with Advent to continue to deliver for our customers and employees and capitalize on the significant opportunities that this investment provides.”
The proposed transaction has reportedly garnered strong support from Nuvei’s shareholders, including Philip Fayer, Novacap, and CDPQ, who collectively represent a significant portion of the voting power. The transaction is subject to shareholder approval, with an expected completion timeline towards the end of 2024 or the first quarter of 2025.
Shareholders’ Support and Transaction
Bo Huang, the Managing Director at Advent, added: “Our deep expertise and experience in payments give us conviction in the opportunity to support Nuvei as it continues to scale from its base in Canada as a global player in the space. We look forward to collaborating closely with Nuvei to capitalize on emerging opportunities to help shape the future of the payments industry.”
