June 14, 2024

Mergers & Acquisitions

EQT Private Equity All Set To Acquire Billtrust For $1.7bn

In a $1.7 billion deal, EQT Private Equity is acquiring Billtrust, a US-based provider of unified payments and AR automation. With this deal, Billtrust shareholders will acquire $9.50 in cash per share which is about 64% over share price at the end of the day as on September 27, 2022 (at $5.77). This deal with EQT Private Equity has received the approval of the Board of Directors of Billtrust. It is expected to be finalized in the first quarter of 2023. With the completion of the transaction, Billtrust shares will acquire the status of a private company, and its shares will no longer trade on NASDAQ.

Billtrust, founded in 2001, simplifies and automates B2B commerce via cloud-based applications and unified payment processing. The platform makes complicated and manual procedures automatic, like payments, online purchasing, invoicing, remittance, credit monitoring, and decisioning and collections. EQT Private Equity will be the third acquisition for Billtrust in less than two years, the other two being Order2Cash (February 2022), another B2B paytech, and iController (Feb 2021).

Speaking about the acquisition, Co-Head and Partner of EQT’s Sector Team for Global Technology Arvindh Kumar, adds that Billtrust operates in sectors that EQT is very familiar with and successful in. Flint Lane, CEO and Founder, Billtrust, believes that this deal will offer more flexibility and resources for growth.

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