BlueGrace Logistics, based in Riverview, Fla., announced that Warburg Pincus agreed to an investment of $255 million in the firm, Transport Topics reports. Also, that includes committed capital and direct investment to increase growth and acquisitions.
In addition, BlueGrace Logistics expects to increase employment in Los Angeles, Boston, Chicago, Tampa and other markets. Overall, they plan to hire 500 to 700 new employees, nearly doubling the current 370 employees.
Whether the new jobs include CDL trucking jobs remains undetermined.
“This investment gives a major shot of adrenaline to our already fast-growing operations,” BlueGrace CEO Bobby Harris said. “We help customers transform their shipping across the country. And, for me, it’s especially gratifying to see more employees come to the company and find a great career.”
Founded in 2009, BlueGrace developed a proprietary software platform.
Overall, it provides customers who need to ship goods with multiple offers from trucking companies. New York-based Warburg Pincus “has been a long-term investor in the technology-enabled logistics market. BlueGrace is a rapidly growing innovator in that industry,” said Alex Berzofsky, managing director of Warburg Pincus. “We see meaningful opportunities for continued growth for the company. And, we look forward to supporting the BlueGrace team.”
Read the rest of the Transport Topics story here.
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