Warburg Pincus makes investment in expanding Blue Grace Logistics

Technology-focused Blue Grace Logistics is set to expand after receiving $255m in investment form private equity firm Warburg Pincus. Blue Grace, based in Tampa, sells freight services for shippers online, as well as offering freight brokerage services. The funds from Warburg, which becomes a minority shareholder, will be used to fund acquisitions and expand the company. Warburg has a track record in logistics, having invested in Coyote in 2007 – which was later sold to UPS – and it had a stake in New Breed Logistics, which was bought by XPO.