M&A Deal Summary

Pitney Bowes Acquires Newgistics

On September 6, 2017, Pitney Bowes acquired internet software and services company Newgistics from Littlejohn for 475M USD

Acquisition Highlights
  • This is Pitney Bowes’ 7th transaction in the Internet Software and Services sector.
  • This is Pitney Bowes’ largest (disclosed) transaction.
  • This is Pitney Bowes’ 19th transaction in the United States.
  • This is Pitney Bowes’ 1st transaction in Texas.

M&A Deal Summary
Date 2017-09-06
Target Newgistics
Sector Internet Software and Services
Buyer(s) Pitney Bowes
Sellers(s) Littlejohn
Deal Type Add-on Acquisition
Deal Value 475M USD

Target

Newgistics

Austin, Texas, United States
Newgistics, Inc. is a provider of e-commerce solutions and services for brands and retailers. Newgistics offers digital commerce development, deep analytics, relationship management, systems integration, fulfillment, parcel delivery and returns management, provide retailers and brands with a modern approach to enriching the customer journey. Newgistics, Inc. was founded in 1999 and is headquartered in Austin, Texas.

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Buyer(S) 1

Buyer

Pitney Bowes

Stamford, Connecticut, United States
Category Company
Founded 1920
Sector Business Services
Employees10,500
Revenue 3.3B USD (2023)
DESCRIPTION
Pitney Bowes facility in Danbury, Connecticut.
Pitney Bowes facility in Danbury, Connecticut.

Pitney Bowes provides technology solutions for small, mid-size and large firms that help them connect with customers to build loyalty and grow revenue. Many of the company's solutions are delivered on open platforms to best organize, analyze and apply both public and proprietary data to two-way customer communications. Pitney Bowes includes direct mail, transactional mail and call center communications in its solution mix along with digital channel messaging for the Web, email and mobile applications. Pitney Bowes was founded in 1920 and is based in Stamford, Connecticut.

DEAL STATS #
Overall 25 of 26
Sector (Internet Software and Services) 7 of 8
Type (Add-on Acquisition) 17 of 18
State (Texas) 1 of 1
Country (United States) 19 of 19
Year (2017) 2 of 2
Size (of disclosed) 1 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-15 PPS Business

Naperville, Illinois, United States

PPS Business Corp. (dba ProSORT Services) is a provider of mail presort services for First-Class and Standard Class mail in the Chicagoland area. ProSORT serves a wide range of First Class and Standard Mail customers in such industries as banking and financial services, insurance, energy, healthcare, education, printing/mailing, and advertising. PPS Business Corp. was founded in 1983 and is based in Naperville, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-30 BlueCrest

Danbury, Connecticut, United States

BlueCrest is a global provider of inserting, sorting, and printing related equipment primarily for the transactional and direct mail industries. BlueCrest was formed in 2018 and is based in Danbury, Connecticut.

Sell $361M

Seller(S) 1

SELLER

Littlejohn

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1996
PE ASSETS 7.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Littlejohn is a private equity firm that makes control investments in mid-sized companies undergoing change; either in capital structure, strategy, operations, or growth. Littlejohn looks to commit $50 to $250 million of equity, mezzanine, or credit capital in companies with annual revenues of $100 to $800 million. Sectors of interest include industrial equipment, packaging, chemicals, automotive and transportation parts and equipment, food and food processing, healthcare, plastics, aerospace/defense, distribution, environmental and infrastructure services, and consumer products. The Firm avoids investing in real estate, fashion, retail, and businesses engaged in high technology. Littlejohn prefers opportunities located in the US, but also considers opportunities in Europe and Canada. Littlejohn was formed in 1996 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 29 of 48
Sector (Internet Software and Services) 1 of 1
Type (Add-on Acquisition) 13 of 22
State (Texas) 1 of 6
Country (United States) 25 of 44
Year (2017) 1 of 3
Size (of disclosed) 5 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-20 Cornerstone Chemical

Waggaman, Louisiana, United States

Cornerstone Chemicals is a producer of a group of high-value intermediate chemicals, including acrylonitrile, melamine, sulfuric acid and diesel exhaust fluid. The company manufactures its products in multiple plants on its owned and highly-integrated 800-acre chemical complex. Cornerstone Chemical was established in 1952 and is headquartered in Waggaman, Louisiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-17 Strategic Materials

Houston, Texas, United States

Strategic Materials is a recycled glass processor and independent recycled plastics processor. Strategic Materials reprocesses post-industrial and post-consumer scrap material into recycled products used by manufacturers of bottles, fiberglass, highway beads, plastic bags, and plastic films. Strategic Materials is based in Houston, Texas.

Buy -
Mergr

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