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Direct Investment  + M&As  | 
EQT Private Equity Completes Go-Private Deal for B2B Payments Firm Billtrust

EQT Private Equity Completes Go-Private Deal for B2B Payments Firm Billtrust

The EQT X fund, part of global investment firm EQT, has completed its acquisition of BTRS Holdings Inc (Billtrust), a B2B order-to-cash software specialist. The deal, announced in September, values Billtrust at $1.7bn, based on EQT’s cash purchase of $9.50 per share.

“We believe B2B payments and accounts receivable continue to be ripe for massive disruption and innovation, and our partnership with EQT will provide us with greater resources and flexibility to build on our leadership position,” Billtrust Founder and CEO Flint Lane said at the time.

With the completion of the acquisition, the NJ-based company’s stock has now ceased trading and will no longer be listed on the Nasdaq.

The acquisition for EQT represents the latest in a string of diverse megadeals. In July 2022, the organization announced plans to purchase solar and storage developer Cypress Creek Renewables for an estimated $2bn.

JP Morgan Securities LLC served as exclusive financial advisor to Billtrust, and Davis Polk & Wardwell LLP acted as legal counsel to Billtrust.

Evercore served as financial advisor to EQT, and Weil, Gotshal & Manges LLP acted as legal counsel to EQT.

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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