Avalara nets commitments for $2.75B financing for take-private buyout by Vista

Avalara Inc. is set to receive a $2.5 billion recurring-revenue loan backing a take-private buyout of the company by Vista Equity Partners, market sources said today.

The loan would be one of the largest loans of this type, the sources noted.

The financing also includes a $250 million revolver.

Blue Owl is leading the financing. Some 20 lenders are involved, market sources said. Among them are Blackstone, Apollo, HPS Investment and Partners Group.

Shareholders of Avalara will receive $93.50 each in an all-cash transaction that values the company at $8.4 billion. The transaction, which was announced yesterday, is due to close in the second half of the year, subject to shareholder and regulatory approval.

Avalara provides tax compliance automation software for companies.

* Updated at 2:16 p.m. ET on Aug. 9, 2022, to add a participant to the lender group.