M&A Deal Summary

EQT Acquires Billtrust

On September 28, 2022, private equity firm EQT acquired internet software and services company Billtrust for 1.7B USD

Acquisition Highlights
  • This is EQT’s 14th transaction in the Internet Software and Services sector.
  • This is EQT’s 18th largest (disclosed) transaction.
  • This is EQT’s 46th transaction in the United States.
  • This is EQT’s 5th transaction in New Jersey.

M&A Deal Summary
Date 2022-09-28
Target Billtrust
Sector Internet Software and Services
Buyer(s) EQT
Deal Type Going Private
Deal Value 1.7B USD
Advisor(s) J.P. Morgan Securities (Financial)
Davis Polk & Wardwell (Legal)

Target

Billtrust

Lawrenceville, New Jersey, United States
Billtrust is a provider of cloud-based payment cycle management solutions. Billtrust helps companies automate and accelerate their accounts receivable (AR) processes to increase cash flow, improve operational efficiency, and drive customer satisfaction. Billtrust was established in 2001 and is based in Lawrenceville, New Jersey.

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Buyer(S) 1

Buyer

EQT

Stockholm, Sweden

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1994
PE ASSETS 242.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

EQT is a global private equity group that purses a variety of investment strategies around the world. EQT is divided into several investment disciplines, including private capital, real assets, credit, and venture. The Firm's private capital group targets large, market-leading enterprises (investment size of €125 to €1.5 billion) across Europe and the US, as well as mid-market, growth companies (investment size of €40 to €125 million) across the US, Europe, China, and Southeast Asia. The Firm's real assets group seeks to identify control or co-control equity investments (investment size of €500 to €1 billion) in medium-sized infrastructure companies that provide an essential service to society, are recession resilient, and have secure cash flows. EQT's credit group provides flexible, long-term debt capital solutions to medium-sized European businesses, across a wide range of sectors. EQT was established in 1994 and is headquartered in Stockholm, Sweden.

DEAL STATS #
Overall 275 of 315
Sector (Internet Software and Services) 14 of 21
Type (Going Private) 15 of 23
State (New Jersey) 5 of 6
Country (United States) 46 of 59
Year (2022) 10 of 14
Size (of disclosed) 18 of 47
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-19 GPA Global

Shenzhen, China

GPA Global is an one-stop-shop premium packaging and displays solutions provider which sources from a wide network of more than 100 vendors across China. GPA Global was founded in 2009 and is based in Shenzhen, China.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-26 First Transit

Cincinnati, Ohio, United States

First Transit is a public transit management operator that transports over 300 million passengers annually across around 300 locations in North America. First Transit provides essential mobility services to communities, college campuses, businesses, and elderly care facilities that are economical, safe, and environmentally friendly. First Transit was founded in 1955 and is based in Cincinnati, Ohio.

Sell -
Mergr

Product

Company

Legal