On February 21, 2020, VersaPay Corporation (TSXV: VPY) and Great Hill Partners, a leading growth-oriented private equity firm, announced the successful completion of the acquisition of VersaPay by an affiliate of Great Hill, pursuant to a statutory plan of arrangement under the Canada Business Corporations Act. Under the arrangement, each VersaPay shareholder will receive cash consideration of $2.70 for each common share held, valuing VersaPay’s total equity at approximately $126 million on a fully diluted basis.
VersaPay is a Fintech company and leading provider of cloud-based invoice-to-cash solutions, enabling businesses to provide a superior customer experience, get paid faster, streamline financial operations, and dramatically reduce costs.
Great Hill is a Boston-based private equity firm targeting investments of $25 million to $500 million in high-growth companies across the consumer, digital infrastructure, financial technology, healthcare, and software sectors.
Cassels represents VersaPay with a team led by Jake Bullen (Private Equity and M&A) and Alex Pizale (Securities and M&A) and including Frank Arnone (Private Equity and M&A), Alex Iliopoulos (Securities and M&A), Conrad Lee and Florence Lau (Business), Andrew Reback and Corinne Grigoriu (Tax), Caitlin Russell (Employment), Peter Sullivan and Mike Tallim (Financial Services), and Steven Kennedy (IP).