M&A Deal Summary

Advent International, Novacap and CDPQ Acquire Nuvei

On April 1, 2024, private equity firm Advent International, private equity firm Novacap and asset manager CDPQ acquired information technology company Nuvei from Novacap and CDPQ for 6.3B USD

Acquisition Highlights
  • This is Advent International’s 31st, Novacap’s 10th and CDPQ’s 8th transaction in the Information Technology sector.
  • This is Advent International’s 3rd, Novacap’s and CDPQ’s 2nd largest (disclosed) transaction.
  • This is Advent International’s 3rd, Novacap’s 40th and CDPQ’s 45th transaction in Canada.
  • This is Advent International’s 1st, Novacap’s 31st and CDPQ’s 42nd transaction in Quebec.

M&A Deal Summary

Date 2024-04-01
Target Nuvei
Sector Information Technology
Buyer(s) Advent International
Novacap
CDPQ
Sellers(s) Novacap
CDPQ
Deal Type Going Private
Deal Value 6.3B USD
Advisor(s) Barclays Investment Bank
TD Securities (Financial)
Stikeman Elliott LLP
Davis Polk & Wardwell (Legal)

Target

Nuvei

Montreal, Quebec, Canada
website
Nuvei is a payment technology platform which offers direct connections to all major payment card schemes worldwide, supports 450 local and alternative payment methods and nearly 150 currencies. Nuvei was founded in 2003 and is based in Montreal, Quebec.

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Buyer(S) 3

Buyer

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1984
PE ASSETS 76.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Advent is a global private equity firm that targets investments in North America, Europe, Asia, and Latin America. Advent's emerging market efforts are concentrated in Central Europe and Latin America. Advent seeks transactions valued between $50 million and $5 billion and can commit up to $2 billion of equity capital per investment. Broad areas of interest include business & financial services, retail & consumer, technology, media, & telecoms, healthcare & life sciences, and industrial. Prospective transaction types include buyouts, growth capital financings, take privates, and recapitalizations. Advent was formed in 1984 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 330 of 330
Sector (Information Technology) 31 of 31
Type (Going Private) 18 of 18
State (Quebec) 1 of 1
Country (Canada) 3 of 3
Year (2024) 3 of 3
Size (of disclosed) 3 of 47
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-28 Skala Cosmeticos

Uberaba, Brazil

Skala Cosmeticos is a manufacturer of haircare brand that develops 100% vegan products. Skala Cosmeticos was founded in 1986 and is based in Uberaba, Brazil.

Buy -
Buyer

Novacap

Brossard, Quebec, Canada

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1981
PE ASSETS 8.0B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

Novacap is a large private equity firm focused on middle-market company acquisitions in Canada. Novacap pursues companies with $30 to $500 million in sales and will consider transactions valued up to $500 million. Target transaction situations include partial or full buyouts, spin-offs, take privates, recapitalizations, and growth capital financings. Novacap will consider opportunities in basic industries as well as high-growth tech sectors. Novacap was formed in 1981 and has offices in Toronto and Montreal.


DEAL STATS #
Overall 59 of 59
Sector (Information Technology) 10 of 10
Type (Going Private) 1 of 1
State (Quebec) 31 of 31
Country (Canada) 40 of 40
Year (2024) 2 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-07 INdigital

Fort Wayne, Indiana, United States

INdigital provides Next Generation 9-1-1 services. Since inception INdigital has invested in and built superior 9-1-1 networks and solutions including NG9-1-1, Text for 9-1-1, and the MEVO service continuity platform. INdigital was foundes in 1995 and is based in Fort Wayne, Indiana.

Buy -
Buyer

CDPQ

Investor Investor Investor Investor Investor

website


Category Asset Manager
Founded 1965
PE ASSETS 80.0B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

CDPQ is a global asset management firm focused on a variety of investing strategies including fixed income, real estate, infrastructure, private equity, venture capital, and public equities. Within private equity, CDPQ looks to acquire significant minority stakes in businesses operating in a variety of sectors and seeks to commit $250 million to $1 billion per transaction. CDPQ was established in 1965 and is headquartered in Montreal, Quebec.


DEAL STATS #
Overall 98 of 98
Sector (Information Technology) 8 of 8
Type (Going Private) 5 of 5
State (Quebec) 42 of 42
Country (Canada) 45 of 45
Year (2024) 2 of 2
Size (of disclosed) 2 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-13 Levio

Québec, Quebec, Canada

Levio is a digital native consulting firm providing services covering all aspects of digital transformation, from business strategies to information technologies (IT), to organizational management, including cybersecurity, data valorization, artificial intelligence and cloud computing. Levio was founded in 2014 and is based in Quebec City.

Buy -

Seller(S) 2

SELLER

Novacap

Brossard, Quebec, Canada

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1981
PE ASSETS 8.0B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

Novacap is a large private equity firm focused on middle-market company acquisitions in Canada. Novacap pursues companies with $30 to $500 million in sales and will consider transactions valued up to $500 million. Target transaction situations include partial or full buyouts, spin-offs, take privates, recapitalizations, and growth capital financings. Novacap will consider opportunities in basic industries as well as high-growth tech sectors. Novacap was formed in 1981 and has offices in Toronto and Montreal.


DEAL STATS #
Overall 27 of 27
Sector (Information Technology) 5 of 5
Type (Going Private) 1 of 1
State (Quebec) 12 of 12
Country (Canada) 17 of 17
Year (2024) 2 of 2
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-07 INdigital

Fort Wayne, Indiana, United States

INdigital provides Next Generation 9-1-1 services. Since inception INdigital has invested in and built superior 9-1-1 networks and solutions including NG9-1-1, Text for 9-1-1, and the MEVO service continuity platform. INdigital was foundes in 1995 and is based in Fort Wayne, Indiana.

Buy -
SELLER

CDPQ

Investor Investor Investor Investor Investor

website


Category Asset Manager
Founded 1965
PE ASSETS 80.0B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

CDPQ is a global asset management firm focused on a variety of investing strategies including fixed income, real estate, infrastructure, private equity, venture capital, and public equities. Within private equity, CDPQ looks to acquire significant minority stakes in businesses operating in a variety of sectors and seeks to commit $250 million to $1 billion per transaction. CDPQ was established in 1965 and is headquartered in Montreal, Quebec.


DEAL STATS #
Overall 14 of 14
Sector (Information Technology) 2 of 2
Type (Going Private) 2 of 2
State (Quebec) 6 of 6
Country (Canada) 7 of 7
Year (2024) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-13 Levio

Québec, Quebec, Canada

Levio is a digital native consulting firm providing services covering all aspects of digital transformation, from business strategies to information technologies (IT), to organizational management, including cybersecurity, data valorization, artificial intelligence and cloud computing. Levio was founded in 2014 and is based in Quebec City.

Buy -