On Feb. 21, Great Hill Partners, a leading growth-oriented private equity firm, completed its acquisition of VersaPay Corporation pursuant to a statutory plan of arrangement under the Canada Business Corporations Act. Under the arrangement, each VersaPay shareholder received cash consideration of $2.70 for each common share of VersaPay held, valuing VersaPay’s total equity at approximately $126 million on a fully diluted basis.
VersaPay is a fintech company and provider of cloud-based invoice-to-cash solutions, enabling businesses to provide a superior customer experience, get paid faster, streamline financial operations and dramatically reduce costs.
Great Hill Partners is a Boston-based private equity firm targeting investments of US$25 million to US$500 million in high-growth companies across the consumer, digital infrastructure, financial technology, healthcare and software sectors.
Cassels Brock & Blackwell LLP represented VersaPay with a team led by
Jake Bullen (private equity and M&A),
Alex Pizale (securities and M&A),
and which included
Frank Arnone (private equity and M&A),
Alex Iliopoulos (securities and M&A),
Conrad Lee (business),
and Corinne Grigoriu (tax).
Arnold & Porter Kaye Scholer LLP acted as U.S. counsel to VersaPay with a team composed of
Marisa White (corporate),
and Anna Parnes (tax).
Blake, Cassels & Graydon LLP acted as Canadian counsel to Great Hill Partners with a team including
Alyssa Moses (securities),
and Jeffrey Shafer (tax).
Alston & Bird LLP acted as U.S. counsel to Great Hill Partners with a team composed of
Justin Howard (corporate),
Scott Harty (tax),
and George Taulbee (intellectual property).