representative work

Great Hill Partners and VersaPay Corporation Announce Closing of Acquisition


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).

This deal is shortlisted for M&A Deal of the Year by the 2021 IFLR1000 Canada Awards.