M&A Deal Summary

Warburg Pincus Acquires Service Express

On August 15, 2024, private equity firm Warburg Pincus acquired information technology company Service Express from Harvest Partners Private Equity and Harvest Partners Structured Capital

Acquisition Highlights
  • This is Warburg Pincus’ 43rd transaction in the Information Technology sector.
  • This is Warburg Pincus’ 236th transaction in the United States.
  • This is Warburg Pincus’ 2nd transaction in Michigan.

M&A Deal Summary
Date 2024-08-15
Target Service Express
Sector Information Technology
Buyer(s) Warburg Pincus
Sellers(s) Harvest Partners Private Equity
Harvest Partners Structured Capital
Deal Type Secondary Buyout
Advisor(s) William Blair
J.P. Morgan Securities (Financial)
Kirkland & Ellis (Legal)

Target

Service Express

Grand Rapids, Michigan, United States
Service Express is a provider of Third Party Maintenance (“TPM”) services for mission-critical data center infrastructure focused on server and storage equipment. Service Express was founded in 1986 and is based in Grand Rapids, Michigan.

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Buyer(S) 1

Buyer

Warburg Pincus

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1966
PE ASSETS 83.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Warburg Pincus is a mega-sized, global private equity firm focused on investment opportunities across North America, Asia, and Europe. Warburg will consider investing at various company stages, from early-stage opportunities to distressed situations. Warburg Pincus is organized by industry groups. Verticals include financial services, healthcare, technology, media & telecommunications, energy, consumer & industrial, and real estate. Within financial services, Warburg will consider asset/wealth managers, banks, exchanges, financial technology, insurance, transaction processing, private banking, and specialty/consumer finance. Within healthcare, specific areas of interest include medical devices, healthcare services, and biotech/pharmaceuticals. Within technology/media/communications, Warburg targets software, media/internet/information, financial technology, telecom, business services, and systems/semiconductors. Within energy, specific areas of interest include oil/gas exploration, power generation/transmission, and alternative energy. Warburg Pincus raised its first fund in 1966 and is based in New York City.

DEAL STATS #
Overall 479 of 482
Sector (Information Technology) 43 of 43
Type (Secondary Buyout) 63 of 63
State (Michigan) 2 of 2
Country (United States) 236 of 237
Year (2024) 5 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-17 Matera

Sao Paulo, Brazil

Matera provides instant payments, QR code, and digital ledger technology. Matera was founded in 1987 and is based in Sao Paulo, Brazil.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-16 Ebco

Mumbai, India

Ebco manufactures furniture fittings and sells furniture fittings and architectural hardware under brands such as Ebco, Livsmart, and Worksmart through an extensive network of distributors that supply over 5,500 hardware retail outlets. Ebco was founded in 1963 and is based in Mumbai, India.

Buy -

Seller(S) 2

SELLER

Harvest Partners Private Equity

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1981
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Harvest Partners is a private equity firm that targets buyout and growth capital investments in middle-market public and private companies. Harvest Partners looks to invest in profitable ($30 to $300 million of EBITDA) consumer products/retail, manufacturing, marketing, building products, industrial, specialty services, and value-added distribution companies valued between $100 and $600 million. The Firm prefers opportunities headquartered in North America. Harvest Partners was formed in 1981 and is based in New York City.

DEAL STATS #
Overall 30 of 30
Sector (Information Technology) 1 of 1
Type (Secondary Buyout) 17 of 17
State (Michigan) 1 of 1
Country (United States) 27 of 27
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-12 Road Safety Services

Omaha, Nebraska, United States

Road Safety Services is a provider of a diverse set of pavement marking and other road safety-related services. Road Safety Services is based in Omaha, Nebraska.

Buy -
SELLER

Harvest Partners Structured Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2014
Size Large
Type Sector Agnostic
DESCRIPTION

Harvest Partners Structured Capital is a private investment group focused on minority position, non-control investments. The Group looks for businesses with $100 million to $1 billion in revenues where Harvest can commit $50 to $250 million. Sectors of interest include business services, consumer services, healthcare, industrial services, manufacturing, and distribution. Harvest Partners Structured Capital is a unit of PE Firm Harvest Partners. The Firm is based in New York City.

DEAL STATS #
Overall 8 of 8
Sector (Information Technology) 1 of 1
Type (Secondary Buyout) 5 of 5
State (Michigan) 2 of 2
Country (United States) 7 of 7
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-01 Acrisure

Grand Rapids, Michigan, United States

Acrisure is a retail insurance brokerage offering comprehensive risk management and consulting solutions, including property & casualty, employee benefits, human resource outsourcing, loss & claims management, surety bonding and personal lines coverage. Acrisure was founded in 2005 and is based in Grand Rapids, Michigan.

Sell -
Mergr

Product

Company

Legal