Nuvei To Be Taken Private By Advent

(RTTNews) - Nuvei Corporation (NVEI, NVEI.TO), Monday said it has agreed to be taken private by Advent International, with the support of each of the company's holders of multiple voting shares, being Philip Fayer, certain investment funds managed by Novacap Management Inc. and CDPQ, via an all-cash transaction which values Nuvei at an enterprise value of approximately $6.3 billion.

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.

Philip Fayer will remain Nuvei's Chair and Chief Executive Officer and will lead the business in all aspects of its operations. Nuvei's current leadership team will also continue following the conclusion of the transaction.

Fayer commented on the announcement: "This transaction marks the beginning of an exciting new chapter for Nuvei, and we are glad to partner with Advent to continue to deliver for our customers and employees and capitalize on the significant opportunities that this investment provides."