Warburg Pincus Invests $400M in WEX Inc.
June 29, 2020
WEX Inc. agreed to a $400 million private investment from an affiliate of Warburg Pincus, consisting of $310 million of convertible notes and $90 million of common stock, and also obtained an amendment to its senior secured credit facilities to increase financial flexibility. The transaction strengthens WEX's balance sheet and liquidity as it navigates COVID-19 headwinds and supports its strategic initiatives across fleet, travel and healthcare payments.
- Buyers
- Warburg Pincus LLC (affiliate)
- Targets
- WEX Inc.
- Sellers
- WEX Inc.
- Industry
- Payments & Fintech
- Location
- Maine, United States
- Transaction Type
- Growth capital
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