Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Nuvei Shareholders Approve $6.3B Advent International Buyout
M&A | Release | Jun 19, 2024
Image: Freepik/jcomp
Nuvei Shareholders Greenlight $6.3 Billion Buyout by Advent International
Nuvei Corp., a major payment technology corporation based in Montreal, has announced that its shareholders have decisively approved a buyout proposal from American private equity firm Advent International. In a recent vote, 99.24% of Nuvei shareholders approved the takeover, which pays $34 per share in cash for a valuation of $6.3 billion. This high approval demonstrates investor confidence in the transaction and its ability to strengthen the company's strategic position. This transaction will take Nuvei private.
See: How AI is Shaping the Future of Financial Services in Canada
Advent International proposed the buyout in partnership with existing owners Novacap, CDPQ, and Nuvei's chair and CEO Philip Fayer, which was first revealed in March 2024. Under the terms of the agreement, Philip Fayer will remain CEO and chair, to ensure continuity of management. The corporation will also keep its headquarters in Montreal.
Background and Next Steps
Nuvei went public in 2020, raising $833 million and breaking the record for the largest tech IPO on the Toronto Stock Exchange. The company's innovative payment options and rapid growth sparked widespread interest, including a large investment from Canadian actor Ryan Reynolds in 2023. These achievements have established Nuvei as a prominent participant in the fintech sector, increasing market interest and investor confidence.
Glass Lewis and Institutional Shareholder Services, two renowned independent proxy consulting companies, also contributed significantly to shareholder approval. These firms had previously advocated voting in favour of the plan, emphasizing the strategic benefits of the transaction.
See: API Magic: Empowering Payment Services Providers and Fintech Innovators to Scale
Nuvei still has to get a court order to complete the transaction. The company expects the transaction to finalize later this year or in the first quarter of 2025. The successful conclusion of this buyout will usher in a new era for Nuvei as a private company, prepared for future growth and innovation.
Conclusion
The approval of Nuvei's $6.3 billion purchase by Advent International is a huge milestone for the company. With strong shareholder support and strategic backing, Nuvei is well-positioned to capitalize on future success as a private venture.
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