In November 2024, Advent International acquired Nuvei, a global leader in payments technology with operations in over 200 markets, through an all-cash transaction valued at US$6.3 billion.
The acquisition was executed via a plan of arrangement under the Canada Business Corporations Act, with support from major Canadian shareholders, including Nuvei Chair and CEO Philip Fayer, funds managed by Novacap Management Inc. and Caisse de dépôt et placement du Québec (CDPQ). As part of the plan, these shareholders agreed to exchange approximately 95 percent, 65 percent and 75 percent of their shares, respectively, for shares in the newly formed private company.
Davies Ward Phillips & Vineberg LLP represented Novacap in connection with the rollover and transfer of its investment to a new continuation vehicle with a team that included Sébastien Thériault, Elise Beauregard, Vanessa Pendenza, Sergio Rodriguez, Jérôme Cauvier, Caroline Parent-Harvey, Mehlka Mustansir and Gabriel Boulianne Gobeil (M&A and Fund Formation); Olivier Désilets, Valérie Trudeau and Amélie Doyon (Capital Markets); Marie-Emmanuelle Vaillancourt and Marc Pietro Allard (Tax); Dan Wolfensohn, Stephen Dalby and Kimvy Ngo (Financing).
Stikeman Elliott LLP and Davis Polk & Wardwell LLP acted as legal advisors to Nuvei.
Norton Rose Fulbright Canada LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisors to Nuvei’s Special Committee.
Kirkland & Ellis LLP and Blake, Cassels & Graydon LLP acted as legal advisors to Advent.
Osler, Hoskin & Harcourt LLP acted as legal advisor to Philip Fayer.
Fasken Martineau DuMoulin LLP and Willkie Farr & Gallagher LLP acted as legal advisors to Novacap.
McCarthy Tétrault LLP and Mayer Brown LLP acted as legal advisors to CDPQ.