Canadian payment technology company Nuvei completed its transition to private ownership on 15 November 2024, closing an all-cash take-private transaction with Advent International at an enterprise value of approximately $6.3 billion. The deal also drew in the continued participation of existing shareholders Philip Fayer, Novacap Management, and Caisse de dépôt et placement du Québec. The closing marks the end of Nuvei's life as a publicly listed company on the Toronto Stock Exchange and Nasdaq, following its 2020 IPO in Toronto.
PRE-DEAL VOLUME GROWTH
Total processing volume grew 42% year-on-year in the first quarter of 2024, reaching $60.1 billion. In the third quarter of 2024, year-on-year volume growth was 27%.
CONSORTIUM
Fayer is Nuvei's founder. Novacap and CDPQ have both been involved with the company previously.
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