Novacap, Caisse de dépôt back Pivotal Payments in $525 mln deal
Novacap has closed the largest technology deal in the firm’s 35-year history, teaming up with Caisse de dépôt et placement du Québec to back a payment processing company. Novacap and the Caisse today announced their investment in Pivotal Payments, a payment and merchant services specialist based in Montréal. The deal values the business at about $525 million. As a result, the two investors hold a majority stake in the company, Novacap President and Managing Partner Pascal Tremblay told PE Hub Canada. He added the deal nonetheless reflects a “true partnership” with management and especially Pivotal’s chief executive, Philip Fayer.
27 September 2017•3 mins read
