{
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  "docSlug": "062cb2b9b6a4",
  "documentTitle": "Nuvei Corp (NVEI)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2021-12-09 00:00:00",
  "orientation": "landscape",
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  "pageNumber": 117,
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  "slideType": "valuation_table",
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  "density": "balanced",
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  "notes": "The slide highlights the acquisition multiples (7.3x Rev, 21.7x EBITDA) and suggests SafeCharge's significance to Nuvei's current profile.",
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      "kind": "callout",
      "text": "It's instructive to evaluate SafeCharge's valuation at the time of acquisition by Nuvei. For reference, Nuvei acquired the business for 7.3x and 21.7x 2019E Adjusted Revenues and EBITDA. Based on our primary research, SafeCharge could represent up to 30% of Nuvei's current business profile.",
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      "text": "EV / Adj EBITDA: 21.7x",
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      "kind": "source-note",
      "text": "Source: Bloomberg for 2019E consensus estimates, Nuvei prospectus and SafeCharge financials. Note: Based on $889 deal valuation at $5.55 per share. Adjusted revenues to conform to Nuvei's financial presentation (See: Slide)",
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      "kind": "table",
      "text": "SafeCharge Financials table",
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      "kind": "title",
      "text": "SafeCharge Valuation",
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