Private equity firm and investor Warburg Pincus has acquired data center service company Service Express.
Purchased from Harvest Partners LP on August 15, the companies did not share the terms of the deal.
Service Express provides third-party post-warranty data center maintenance services and managed services. The company is headquartered in Grand Rapids, Michigan, and has locations across the US and Europe.
Harvest and Service Express first teamed up in 2019, and over the years have seen the data center services company grow organically and with acquisitions, enabling it to develop its suite of hybrid cloud solutions.
Among those acquisitions are ServIQ in 2023, iTech Solutions Group, InTheCloud, and Trident Computer Resources in 2022, ICC Group and Blue Chip Engineering in 2021, and the third party maintenance division of Zensar Technologies Ltd and SYMM-Care Services Inc. in 2020.
Service Express CEO Ron Alvesteffer will continue to head the company post-acquisition.
Steve Fessler, partner at Harvest, said: "When we partnered with Service Express, we embarked on a plan with management to build upon the company's market-leading position in the third-party maintenance space and accelerate its growth. Since then, we have successfully expanded into Europe, added new service offerings, and invested heavily in the Company's salesforce and go-to-market strategy."
"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, Edge, and distributed computing infrastructure," added King Leung, principal at Warburg Pincus.
Headquartered in New York, Warburg Pincus has previously invested in Encora, Endurance International, eSentire, Evolution Data Centers, Allied Universal, Princeton Digital Group, and Service Logic. The firm has more than $83 billion in assets under management.
William Blair and J.P. Morgan served as financial advisors and Kirkland & Ellis LLP served as legal advisor to Harvest and Service Express.
Citi acted as financial advisor and Cleary Gottlieb Steen & Hamilton served as legal advisor for Warburg Pincus.
