EQT to take B2B payments firm Billtrust private for $1.7bn

The transaction is expected to close in the first quarter of 2023.

  • According to terms of the transaction, Billtrust shareholders will receive $9.50 per share
  • When the deal closes, Billtrust will no longer trade on the NASDAQ
  • J.P. Morgan Securities LLC is serving as financial advisor to Billtrust while Evercore is serving as financial advisor to EQT

EQT Private Equity has agreed to acquire Lawrenceville, New Jersey-based Billtrust, a B2B payments solutions provider, in a take-private deal for about $1.7 billion.

According to terms of the transaction, Billtrust shareholders will receive $9.50 per share. When the deal closes, Billtrust will no longer trade on the NASDAQ.

Billtrust was founded in 2001.

Arvindh Kumar, a partner and co-head of EQT’s global technology sector team, said in a statement, “We look forward to partnering with Billtrust in its journey to help customers digitize and streamline their finance operations. The Billtrust platform features modern solutions, a compelling value proposition, and, like EQT, a commitment to innovation and transformation in the digital era.”

The transaction is expected to close in the first quarter of 2023.

J.P. Morgan Securities LLC is serving as financial advisor to Billtrust while Davis Polk & Wardwell LLP is acting as legal counsel.

Evercore is serving as financial advisor to EQT while Weil, Gotshal & Manges LLP is acting as legal counsel.

EQT has 77 billion euros in assets under management as of June 30, 2022.