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M&A insights: Carlyle announce new CEO, Rothschilds look to go private

Updated: Mar 7

1. Nuvei announces intention for $1.3 billion acquisition of Paya

Nuvei, the payment technology solutions provider, announced its intention to acquire UK based Paya, in a transaction valued at $1.3bn,expected to be executed in the firstquarter of 2023. It aims to enhancePaya’s integrated paymentand commerce solutions alongside business diversification strategies. The offer is all-cash, with an offeringof $9.75 per share. The transaction will be financedby a combination of cash on hand, existing credit facilities and a freshly acquired committed $600 million from a first lien secured credit facility. This will allow Nuvei to benefit from the domestic and global market opportunity in software, by utilising the presence of Paya’s independent vendor platforms and end-to-end solutions.

2. Carlyle Group announce Harvey Schwartz as CEO

Carlyle Group, the private equity giant, announced Harvey Schwartz as its new CEO on Monday. Schwartz brings with him the experience of a successful career at Goldman, having retired after losing out to David Solomon in the race for replacing Lloyd Blankfein. Carlyle have set a $180 million pay package set to be paid over the next 5 years if he manages to push the share price above a certain threshold or if the firm is sold to a competitor

3. Rothschilds make a take private bid

Alexandre de Rothschild, the seventh-generation heir to the world’s most famous banking dynasties, has decided to consolidate his power by taking Rothschild & Co. private. “You can’t be half pregnant,” de Rothchild told the FT “it was clear that we reached the limit and full potential of the listing. Our DNA is much better suited to being a private company.” The family made a bid of 48 per-share valuing the company at €3.7 billion

4.CVS has agreed to buy Oak Street Health for $10.6 billion

CVS struck a deal to purchase Oak Street Health Inc. at $39 a share in cash, allowing them to push deeper into the primary care space. Amid a highly competitive environment in its pharmacy business CVS has been looking to expand into direct patient care via acquisitions, having closed a deal for Signify Health Inc. last year.

5.Deal for Toshiba edges closer after Japanese bank commitments

Top Japanese banks have agreed to issue letters committing to a $10.6 billion loan backing Japan Industrial Partners led consortium for a takeover of Toshiba.

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