We are advising Nuvei on the transaction

Davis Polk is advising Nuvei Corporation on its going-private acquisition by Advent International via an all-cash transaction that values Nuvei at an enterprise value of approximately $6.3 billion. The transaction has support of each of Nuvei’s holders of multiple voting shares, being Philip Fayer, Nuvei’s founder, Chairman and Chief Executive Officer; certain investment funds managed by Novacap Management Inc.; and CDPQ. The transaction is subject to court approval and customary closing conditions, including receipt of key regulatory approvals, is not subject to any financing condition and, assuming the timely receipt of all required key regulatory approvals, is expected to close in late 2024 or the first quarter of 2025.

Nuvei is the Canadian fintech company accelerating the business of clients around the world. Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services.

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 415 private equity investments across more than 40 countries and regions, and as of September 30, 2023, had $91 billion in assets under management.

The Davis Polk corporate team includes partner Evan Rosen and associate Heather Weigel. Partner Marcel Fausten is providing capital markets advice. Partner Veronica M. Wissel and counsel Charlotte R. Fabiani are providing executive compensation advice. Partner William A. Curran is providing tax advice. Partner Jesse Solomon and counsel Matthew Yeowart are providing antitrust and competition advice. Partner David Hahn and counsel Welton E. Blount are providing finance advice. Members of the Davis Polk team are based in the New York, Washington DC and London offices.