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Latham & Watkins Advises Financing Sources for the Take Private Acquisition of Billtrust by EQT

December 28, 2022
The transaction reflects another technology take private acquisition financing by the firm.

BTRS Holdings Inc. (Billtrust) (NASDAQ: BTRS), a B2B order-to-cash software leader, has announced the completion of its acquisition by the EQT X fund (EQT Private Equity), part of EQT, a leading global investment organization. The transaction was announced on September 28, 2022, and received shareholder approval on December 13, 2022.

Latham & Watkins LLP advised the financing sources for the transaction, which included Sixth Street Lending Partners, Owl Rock, and Monroe Capital, with a deal team led by Los Angeles partner Ken Askin, Bay Area partner Haim Zaltzman, Los Angeles partners Josh Holt and Jason Bosworth, with associates Michael Novak, Juan Carlos Olivares, Kevin Castillo, Hai Pham, and Gina Han. Advice has also been provided on common diligence matters by Chicago partner Brandon Anderson, with associate Kathy Page; on tax matters by New York partner Bora Bozkurt, with associate Michael Yu; on intellectual property and data privacy matters by Bay Area partner Michelle Gross, with associate Nicole Nour; on ERISA, labor and employment matters by Chicago partner Benjamin Rosemergy; and on sanctions, anti-bribery and anti-corruption matters by London partner Nathan Seltzer, with associates Jay Winkelman and Alli Hugi.