Nuvei's $6.3 Billion Acquisition by Advent International Unveiled
Deal News | Nov 22, 2024 | CEE Legal Matters
Advent International has acquired Nuvei Corporation, a Canadian payment processing platform, in a transaction valued at approximately USD 6.3 billion. This significant transaction involved legal advisory services from Ellex and Kirkland & Ellis for Advent International, while Nuvei received legal advice from Stikeman Elliott and Sorainen. The acquisition structure will result in Nuvei being delisted from the stock exchange, with current shareholders Philip Fayer, Novacap, and CDPQ retaining certain ownership percentages. Specifically, they will hold indirectly about 24%, 18%, and 12% equity, respectively, while Advent International will hold the remaining 46%. This strategic move aims to leverage the alliance between Advent International and existing shareholders to enhance Nuvei's growth and success.
Sectors
- Private Equity
- Financial Technology
- Legal Services
Geography
- Canada – Nuvei Corporation, the target company, is listed in Canada.
- Global – Advent International, a global private equity firm, is involved in this acquisition.
Industry
- Private Equity – Advent International, a private equity firm, is the acquirer in this transaction.
- Financial Technology – Nuvei Corporation is a payment processing platform, which is a financial technology company.
- Legal Services – Multiple law firms, including Ellex, Kirkland & Ellis, Stikeman Elliott, and Sorainen, are involved in providing legal advisory services for the transaction.
Financials
- USD 6.3 billion – Total value of the acquisition transaction.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Nuvei Corporation | Target Company | Company | A payment processing platform listed in Canada. |
| Advent International | Bidding Company | Company | A private equity firm acquiring Nuvei Corporation. |
| Ellex | Legal Advisor | Company | Provided legal advisory services to Advent International. |
| Kirkland & Ellis | Legal Advisor | Company | Collaborated with Ellex to advise Advent International. |
| Stikeman Elliott | Legal Advisor | Company | Provided legal advisory services to Nuvei Corporation. |
| Sorainen | Legal Advisor | Company | Worked with Stikeman Elliott to advise Nuvei Corporation. |
| Philip Fayer | Shareholder | Person | Current shareholder of Nuvei Corporation. |
| Novacap | Shareholder | Company | Current shareholder of Nuvei Corporation. |
| CDPQ | Shareholder | Company | Current shareholder of Nuvei Corporation. |