Warburg Pincus LLC
08/15/2024 | Press release | Distributed by Public on 08/15/2024 07:56
Service Express Announces Growth Investment from Warburg PincusAug 15, 2024
Investment Underscores Service Express' Superior Service Quality and Track Record of Organic Growth
GRAND RAPIDS, Mich., August 15, 2024 -- Service Express, a leading provider of data center solutions, today announced a significant growth investment from Warburg Pincus, a leading global growth investor. The investment will be used to support continued geographic expansion, go-to-market initiatives and strategic acquisitions. Terms of the transaction were not disclosed.
Service Express provides key data center solutions, including third-party, multivendor maintenance services, managed infrastructure services and hardware solutions to more than 6,000 customers globally. The company's maintenance services enable customers to maintain and extend the life of mission-critical data center equipment while experiencing quicker response times at a lower cost compared to post-warranty support offered by hardware manufacturers. Service Express' flagship technology, ExpressConnect®, simplifies and streamlines data center maintenance tasks with monitoring, automation and more. The company maintains data center equipment for Fortune 500 companies, hospitals, manufacturing plants, universities, banks, financial institutions, government agencies, and other mid to large enterprises worldwide.
"We are excited to partner with Warburg Pincus as we look to accelerate the growth of our business and meet the increasing demands of our client base, while still providing the industry leading level of service we are known for," said Ron Alvesteffer, CEO, Service Express. "Our growth to-date reflects the commitment, hard work and dedication of our employee base and is a testament to the culture we have at our company. We would like to thank Harvest Partners for their partnership over the past five years, helping us substantially grow our revenue and footprint through additional services and expansion across the U.S. and into the U.K."
"We focus on companies that offer differentiated and value-added solutions that are well positioned to benefit by addressing shifting business needs. Service Express is an ideal fit within our portfolio as a scaled, best-in-class data center services platform within the growing market for mission critical aftermarket services," said Doug Musicaro, Managing Director, Warburg Pincus.
"Driven by the company's customer-first service culture, we believe Service Express is well positioned to capitalize on several secular trends including increasing investment in digitization, artificial intelligence and edge and distributed computing infrastructure," added King Leung, Principal, Warburg Pincus. "We are excited to partner with Ron and the Service Express team to execute on both organic and inorganic growth initiatives and continue the company's reputation as a top-tier provider in the space," added Tom Reidy, Vice President, Warburg Pincus.
Warburg Pincus is an experienced investor in commercial and technology services, with notable investments including Encora, Endurance International, eSentire, Evolution Data Centers, IONOS, Allied Universal, Aramark, Princeton Digital Group, and Service Logic.
Citi acted as financial advisor and Cleary Gottlieb Steen & Hamilton served as legal advisor for Warburg Pincus.
About Service Express
Service Express is a leading data center solutions provider specializing in multivendor maintenance, managed infrastructure and hardware services. For more than 30 years, Service Express has worked alongside organizations worldwide to deliver results by maximizing infrastructure investments, refining IT strategies and adapting to evolving demands. Service Express continues to be recognized for its commitment to providing long-term, people-powered solutions that build lasting relationships and exceed expectations. For more information, visit serviceexpress.com.
About Warburg Pincus
Warburg Pincus LLC is the oldest private equity firm and a leading global growth investor. The firm has more than $83 billion in assets under management. The firm's active portfolio of more than 225 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Since its founding in 1966, Warburg Pincus has invested more than $117 billion in over 1,000 companies globally across its private equity, real estate, and capital solutions strategies. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information, please visit www.warburgpincus.com. Follow us on LinkedIn.
Contacts
Joshua Leatherman, Service Express
Sarah Bloom, Warburg Pincus