Warburg Pincus invests in New Breed
The equity investment firm Warburg Pincus has purchased a stake in New Breed, the information technology company specializing in logistics-related technology for large companies and government operations.
New Breed said Thursday that Warburg Pincus had acquired the stake in the company previously held by Eros Partners. Terms of the transaction were not disclosed.
New Breed provides IT-based supply chain services for clients including Siemens Medical Solutions, the U.S. Postal Service, Boeing, Verizon Wireless, Panasonic and the U.S. Marine Corps. The company has 2,500 employees, operates 30 distribution facilities and annually distributes $12 billion in products worldwide.
'Warburg Pincus is an ideal partner as we take our company to the next level through both organic and acquisition growth,' said New Breed chairman and chief executive officer Louis DeJoy. 'Warburg Pincus has a strong track record and shares our strategic vision for growth and industry leadership.'
Officials with Warburg Pincus said New Breed presents an attractive investment opportunity.
Pat Hackett, managing director, and Alex Berzofsky, vice president, have joined the board of director of New Breed.
Warburg Pincus invests in a range of industries. It has invested in various companies involved in the supply chain/logistics space, including Manugistics, Radhakrishna Foodland, World Logi and GT Nexus.