BTRS Holdings gets debt financing commitment for buyout by EQT

By Sara Rosenberg

New York, Sept. 28 – BTRS Holdings Inc. (Billtrust) has received a commitment for debt financing to help fund its acquisition by EQT X fund, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

Sixth Street Partners LLC, Owl Rock Capital Advisors LLC and Monroe Capital Management Advisors LLC provided the debt commitment.

Under the agreement, BTRS is being bought for $9.50 per share in cash. The transaction values the company’s equity at about $1.7 billion.

Other funds for the transaction will come from equity.

Closing is expected in the first quarter of 2023, subject to customary conditions, including approval by Billtrust shareholders and receipt of applicable regulatory approval.

BTRS is a Lawrenceville, N.J.-based B2B accounts receivable automation and integrated payments company.

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