Private equity giant EQT is to take Billtrust private again in a $1.7 billion deal less than two years after the automated payments specialist listed on Nasdaq via a SPAC merger, according to a report by AltAssets.
Billtrust, which provides cloud-based B2B accounts receivable automation and integrated payments, was previously financed by Goldman Sachs Private Capital Investing and Bain Capital Ventures, but became a listed business in January 2021 through a merger valued at $1.3 billion with the South Mountain Merger Corp SPAC.
EQT’s offer for the business represents a 64% premium above the closing share price of $5.77 on 27 September, and more than a 76% above the trailing 90-day volume weighted average stock price for the period ended September 27.
Read more: Private Equity Wire
