M&A · Tech · Services-Prepackaged Software
TPG Inc. to acquire AvidXchange Holdings, Inc.
Announced May 6, 2025 · Closed Oct 15, 2025
Deal value$2.20BEV $1.70B
Premium22.0%To unaffected price
EV / Adj. EBITDA20.6x3.9x EV / Revenue
ConsiderationAll cash$10.00 per share
Transaction
- Acquirer
- TPG Inc. (TPG)
- Target
- AvidXchange Holdings, Inc. (AVDX)
- Buyer type
- Private equity
- Offer price per share
- $10.00
- Enterprise value
- $1.70B
- Status
- Closed Oct 15, 2025
Deal protections
- Break fee (target pays)
- $78.0M · 3.5%
- Reverse fee (buyer pays)
- $133M · 6.0%
- Go-shop
- No-shop
- Financing
- Committed · Barclays
Advisors
- To the acquirer
- JPMorgan, Moelis, RBC Capital Markets
- To the target
- FT Partners, Barclays
Sector context · Tech
- Comparable deals
- 59 in the prior 24 months
- Premium
- 22.0% vs. 35.0% sector median
- EV / Adj. EBITDA
- 20.6x vs. 16.5x sector median
- Break fee
- 3.5% vs. 3.1% sector median
Timeline
- AnnouncedMay 6, 2025
- Proxy filedJun 17, 2025
- Definitive proxyAug 15, 2025
- Shareholder voteSep 16, 2025
- ClosedOct 15, 2025