April 2, 2024

On April 1, Nuvei Corporation (Nasdaq: NVEI) (TSX: NVEI), a Canadian company dual listed on NASDAQ and the Toronto Stock Exchange, announced that it entered into a definitive arrangement agreement to be taken private by Advent International at $34 per share, with the support of the holders of multiple voting shares, Nuvei’s Chair and CEO Philip Fayer, Novacap and CDPQ. The transaction has an enterprise value of approximately $6.3 billion.

Willkie acted as U.S. counsel to Novacap in the transaction. Novacap agreed to roll over approximately 65% of its shares and is expected to indirectly own or control approximately 18% of the equity in the resulting private company.  

One of the most advanced technology providers in the global payments industry, Nuvei accelerates the growth of its customers and partners around the world through a modular, flexible and scalable solution that enables leading companies across all verticals to accept next-gen payments, offer all payout options, and benefit from card issuing, banking, risk and fraud management services. Nuvei's global reach extends to more than 200 markets across the globe, with local acquiring in 50 markets and connectivity to 680 local and alternative payment methods. In its recent 2023 annual financial statements Nuvei announced that it had processed more than $200 billion in total volume, and $1.2 billion in revenue.

Novacap is a leading North American private equity firm with over C$8 billion of assets under management.

The Willkie team was led by partners Russell Leaf, Jared Fertman and Sean Ewen with associate David Ostermann.