US EditionTPG teams with Corpay to buy AvidXchange for $2.2B
- TPG and Corpay agreed in 2025 to acquire AvidXchange, a Charlotte-based accounts payable automation provider, for $2.2 billion in a transaction expected to close in Q4 2025.
- The deal follows interest in meeting growing demand for automated, secure accounts payable processes and requires regulatory and shareholder approvals to finalize.
- Corpay will purchase a 33% stake for $500 million and partner with TPG to support AvidXchange’s growth as a private company serving over 8,500 clients with integrated payment solutions.
- AvidXchange processed 79 million transactions and generated more than $425 million revenue in 2024, while TPG and Corpay praised its assets, high retention, and potential to enhance payment visibility and efficiency.
- The acquisition will convert AvidXchange to private ownership, granting flexibility to accelerate profit growth and improve its platform absent public market pressures under continued leadership.
11 Articles
11 Articles
TPG teams with Corpay to buy AvidXchange for $2.2B
TPG, which has around $246 billion in assets under management, just announced its last 10-figure deal. The investment firm is teaming up with a publicly traded fintech to buy AvidXchange, a North Carolina-based businesses that specializes in payment processing for midsize businesses.
NC-based AvidXchange to be acquired for $2.2 billion
CHARLOTTE, N.C. (QUEEN CITY NEWS) -- AvidXchange announced Tuesday that the Charlotte-based payments solutions provider is being acquired in a $2.2 billion deal. The namesake of the Music Factory says in a release it has entered into a definitive agreement to be acquired by TPG, a global alternative asset management firm, in partnership with Corpay, a global leader in corporate payments. TPG and Corpay will acquire AvidXchange for $10 per share…
Charlotte's AvidXchange to be acquired for $2.2 billion
CHARLOTTE, N.C. (QUEEN CITY NEWS) -- AvidXchange announced Tuesday that the Charlotte-based payments solutions provider is being acquired in a $2.2 billion deal. The namesake of the Music Factory says in a release it has entered into a definitive agreement to be acquired by TPG, a global alternative asset management firm, in partnership with Corpay, a global leader in corporate payments. TPG and Corpay will acquire AvidXchange for $10 per share…
TPG, Corpay to buy AvidXchange for $2.2 billion
Global alternative asset manager TPG will partner with Corpay to buy payments solutions provider AvidXchange for $2.2 billion in an all-cash deal, the companies said on Tuesday.The deal, which helps the two payments firms scale up operations, sent AvidXchange's shares soaring about 20 per cent in extended tr
Charlotte-Based AvidXchange to Be Acquired in $2.2 Billion Deal
Source: SOPA Images / Getty AvidXchange, a Charlotte-based payments software company, is being acquired for $2.2 billion by global investment firm TPG in partnership with Corpay, a leader in corporate payments. The transaction values AvidXchange shares at $10 each, which is a 22 percent increase from the company’s closing price on May 6. TPG will take a majority ownership stake through its private equity platform, while Corpay will hold a minori…
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