Advent International, a private equity firm, is set to acquire Nuvei, a Canadian payments technology company, for $6.3 billion. This deal, valued at $34 per share, marks Nuvei's transition to a private entity nearly four years after its listing on the Toronto Stock Exchange. Actor Ryan Reynolds has been a financial backer of Nuvei, lending further intrigue to this significant acquisition.
Nuvei, with a current market capitalization of nearly $4.4 billion, stands as a prominent player in the payments technology sector, providing businesses with versatile solutions for payment processing. The buyout represents a premium of 56% to the company's pre-deal closing price on the Nasdaq. Nuvei's current CEO, Philip Fayer, will retain leadership, continuing its operations from its Montreal headquarters. The involvement of existing shareholders, including Fayer, private equity firm Novacap, and Canadian pension fund CDPQ, further solidifies the structure of the private entity, with anticipated ownership percentages delineated post-closure.
