On Monday, Nuvei Corporation (NVEI, NVEI.TO) announced that it will be taken private by Advent International. The decision enjoyed the backing of all the company's key stakeholders, including Philip Fayer, investment funds managed by Novacap Management Inc., and CDPQ. The move, which entails an all-cash transaction, pegs Nuvei's enterprise value at an estimated $6.3 billion.
In its recent 2023 annual financial report, Nuvei revealed that it had processed over $200 billion in total volume, with revenues surpassing $1.2 billion.
Philip Fayer will maintain his positions as Nuvei's Chair and Chief Executive Officer and will oversee all aspects of its operations. The company's existing leadership team will also continue their roles after the transaction's completion.
Fayer shared his enthusiasm about the announcement, stating, "This transaction signals the start of an exciting new period for Nuvei. We are delighted to team up with Advent and look forward to leveraging the considerable opportunities that this investment affords to better serve our customers and employees."
