Exela BPA Completes Restructuring with XBP Acquisition
Deal News | Aug 07, 2025 | SOLIC Capital LLC
SOLIC Capital Advisors acted as financial advisor to an ad hoc group of bondholders during the successful restructuring and sale of Exela Technologies BPA, LLC. Exela BPA emerged from Chapter 11 bankruptcy on July 29, 2025, and was acquired by XBP Europe Holdings, Inc., a company specializing in bill, payment, and related solutions. The transaction followed Exela BPA's confirmed Plan of Reorganization, establishing the new combined entity, XBP Global Holdings, Inc., which is expected to generate over $900 million in revenue. The restructuring involved converting Exela BPA bonds into XBP common stock and included $80 million in new debtor-in-possession financing. Reid Snellenbarger and Greg Hagood led the advisory team at SOLIC Capital for the successful outcome.
Sectors
- Financial Advisory
- Business Process Automation
- Bankruptcy and Restructuring
- Payments and Billing Solutions
Geography
- United States – Location of Exela Technologies BPA, LLC and involvement of SOLIC Capital.
- Europe – XBP Europe Holdings is a pan-European company acquiring Exela BPA.
Industry
- Financial Advisory – Involved in advisory services during restructuring and acquisition.
- Business Process Automation – Core sector of Exela Technologies BPA, LLC.
- Bankruptcy and Restructuring – The transaction revolves around the restructuring efforts and Chapter 11 bankruptcy.
- Payments and Billing Solutions – XBP Europe Holdings is involved in the integration of bills, payments and related services.
Financials
- $1.3 billion – Amount of Exela BPA bonds outstanding converted into XBP common stock.
- $80 million – New money financing provided during the Chapter 11 Bankruptcy process.
- $900 million – Projected revenue for the newly combined entity, XBP Global Holdings, Inc.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Exela Technologies BPA, LLC | Target Company | Companies | A provider of business process automation solutions. |
| XBP Europe Holdings, Inc. | Bidding Company/Buyer | Companies | A company specializing in bills, payments, and related solutions. |
| SOLIC Capital Advisors | Financial Advisor | Companies | Advisors to the bondholder group during the restructuring and sale. |
| Reid Snellenbarger | Lead Advisor | People | Led the advisory engagement at SOLIC Capital. |
| Greg Hagood | Lead Advisor | People | Led the advisory engagement at SOLIC Capital. |