WEX Inc.’s Acquisition of Noventis

WilmerHale LLP and Sidley Austin LLP provided legal counsel to WEX. Raymond James acted as financial advisor to Noventis while Akin Gump Strauss Hauer & Feld LLP and Schulte Roth & Zabel LLP provided legal counsel.

WEX Inc. (NYSE: WEX), a leading provider of corporate payments solutions, signed an agreement to acquire Noventis, an electronic payments network focused on optimizing payment delivery for bills and invoices to commercial entities.

WEX has a longstanding relationship with Noventis as a critical supplier of virtual cards that enable payment transactions through Noventis’ network. This acquisition will expand WEX’s reach as a corporate payments supplier and provide more channels to billing aggregators and financial institutions. The combined offering will provide a path to additional payments functionality and flexibility to Noventis’ customers, including financial institutions, bill pay processors and accounts payable (AP) software providers. The transaction is expected to close in the first half of 2019 following customary regulatory approvals.

Andrew Bonnes (Picture) led the WilmerHale team representing WEX in this deal, with a corporate team that includes Jeff Stein, JC Minko and Nicolette Anagnos.

The Schulte team advising Noventis is led by bank regulatory partner Donald Mosher and includes special counsel Kara Kuchar and associate Adam Barazani.

Involved fees earner: Andrew Bonnes – WilmerHale; Jeff Stein – WilmerHale; Joseph Minko – WilmerHale; Nicolette Anagnos – WilmerHale; Donald Mosher – Schulte Roth & Zabel; Kara Kuchar – Schulte Roth & Zabel; Adam Barazani – Schulte Roth & Zabel;

Law Firms: WilmerHale; Schulte Roth & Zabel;

Clients: WEX Inc.; Noventis Inc.;

Author: Ambrogio Visconti