Nuvei Corp. has announced that it has entered into an agreement to go private with Advent International, in addition to existing Canadian shareholders Philip Fayer, Novacap, and CDPQ. Shareholders will receive US$34 per share in cash, with the deal valuing the company at US$6.3 billion.
As a well-established investor in the payments technology sector, Advent International is expected to bring its expertise to Nuvei. Philip Fayer will continue to serve as the company’s chair and chief executive, with the current leadership team also staying in place. Fayer believes that this deal marks the beginning of an exciting new chapter for the company.
Following the transaction, Fayer will indirectly own or control approximately 24% of the newly private company, while Novacap will hold 18% and CDPQ will own 12%. This acquisition signifies a significant development for Nuvei as it looks towards future growth opportunities.
The company’s stock ticker symbol on the Toronto Stock Exchange is NVEI.
