The holding should debut on the US stock exchange in the first half of the year
The week got off to a busy start for nuvini, a cloud software as a service holding company. The company just announced that it has closed the business combination with Market Partnersa SPAC listed in nasdaq. The company is expected to make its US stock market debut in the first half of the year, under the name Nuvini Group.
The signing of the contract was already expected. In January 2023, the nuvini signed a letter of intent to join the Market Partners. Now, the company created by Pierre Schurmann is officially open to public stock market access. According to the entrepreneur, the IPO decision in the US involved a few factors.
“The Brazilian market is closed, in the US it is faltering. Also, there is no such company nuvini in Brazil and it is difficult when there are no references to demonstrate to investors that it will be a good deal”, explains Pierre, in an interview with startups. Emphasize that the listing will take the company to another level in terms of visibility. “Until then, what we were doing was visible in Brazil. From the moment we are at the Nasdaq, our movements and our evolution will have a much wider audience, which includes global and North American investors,” he underlines.
Pierre will continue as CEO of the listed company even after the merger closes nuvini AND Market Partners. The combined company will be valued at approximately R$1.6 billion (US$312 million). In addition, the union plans to provide approximately another $43.4 million through SPAC equity.
what’s behind it
The move is part of M&A’s growth plan nuvini, which aims to grow its portfolio of B2B SaaS companies. “nuvini generates cash, is profitable and is growing. The funds raised with the IPO will be used 100% to make new acquisitions”, says Pierre.
The objective is the acquisition of profitable businesses, with revenues between R $ 10 million and R $ 30 million, which have an established business model, recurring revenue, positive cash generation and relevant growth potential. The founder of the company claims that he has already formed a pipeline. “We’re agnostic to the industry. But we haven’t looked at fintechs, which are in a super hot moment,” he points out.
In December 2022, nuvini announced Walter Leandro Marques as Vice President of M&A. It is the first time that an executive has taken the position, previously led by the founder of the holding company. At the time, Walter told the startups That nuvini I was looking for companies that were off the radar of other companies. “We work to find better margins. If it gets into a red sea, or it’s very competitive, we’re leveled,” she said. He said that in 2023 the goal is to incorporate at least 3 other companies into the group.
The year has just begun and the company has already put the machine in motion. Just over a month ago, the company purchased SmartNX, its seventh acquisition. The startup develops solutions to connect businesses and consumers through an omnichannel platform or, as it calls it, CX as a Service. Also, the wallet of nuvini includes brands leadlovers, Ipê Digital, Effecti, Datahub, Onclick AND Mercos.
relevant shareholder
the SPAC Market Partners was launched in 2021, during the US blank check company creation boom, and was on the verge of completing the 2-year legal period to complete a deal, when it announced the deal with Nuvini. “The merger was designed so that we could access the capital market. Market Partners he has been a technology investor for over 15 years and one of the best in investment performance. In addition, the company partners with software and growing companies. He has experience and a very relevant operational history, which adds value for us, much more than money,” says Pierre.
A nuvini and the Nuvini group they were recommended by Mayer Brown LLP as his legal counsel in the United States; Tauil & Checker Advogados, an affiliate of Mayer Brown LLP, as a Brazilian lawyer; AND Carey Olsen Cayman Limitedas legal adviser to caiman. OR Maxim Group LLC acted as sole financial advisor to the market in the context of the business combination transaction. A Market was recommended by Latham & Watkins LLP and served as legal counsel in the United States; Mattos Filo as your Brazilian legal adviser.
Source: Terra

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