Corpay, Inc. (NYSE: CPAY), a corporate payments company, along with private equity firm TPG, has finalized the take-private transaction for AvidXchange Holdings, Inc., an agreement that was initially announced on May 6, 2025. This completion sees Corpay invest approximately $550 million to secure a 34% equity stake in AvidXchange. Ron Clarke, Chairman and CEO of Corpay, stated that the company anticipates the transaction will be “slightly accretive to the fourth quarter of 2025, and accretive to Corpay earnings in 2026.” He added, “We’re thrilled to partner with TPG on this transaction. The combined team is squarely focused on accelerating revenue and profit growth to a place where we would exercise our option to purchase the remaining equity of AvidXchange.” Partners at TPG, John Flynn and Tim Millikin, commented on the new partnership, stating, “We’re excited to get underway to fully realize the potential within AvidXchange. Partnering with Corpay brings additional perspective and insight to the transaction, which we expect will accelerate Avid’s performance.” Corpay, an S&P 500 provider, offers commercial cards, including business, fleet, and virtual cards, alongside accounts payable (AP) modernization solutions such as invoice and payments automation and cross-border payments to businesses globally. The company’s solutions aim to help clients manage purchases, reduce fraud, and optimize spending.