NEXT plc and Reiss Family Acquire Warburg Pincus' Stake in Reiss
September 1, 2023
NEXT plc and the Reiss family have agreed to acquire Warburg Pincus' entire 34% interest in the Reiss Group for total consideration of £128m. Following completion (expected mid-October 2023), NEXT's holding will increase from 51% to 72%, the Reiss family will hold 22% and Reiss management will retain 6%, with Reiss consolidated into NEXT's accounts.
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Warburg Pincus to Acquire Network Plus from OMERS Private Equity
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Warburg Pincus has entered into an agreement to acquire Network Plus, a UK utility and infrastructure services provider, from OMERS Private Equity and other shareholders. The deal is intended to accelerate Network Plus’s growth in maintenance, enhancement, and operational services across water, wastewater, gas, power, and broader infrastructure sectors, with Network Plus’s leadership team and branding expected to remain in place after completion.
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ERGO / Munich Re Group Completes Acquisition of NEXT Insurance
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ERGO Group AG, part of Munich Re Group, has completed the full acquisition of NEXT Insurance, embedding the digital insurer within ERGO's management structure. The transaction, announced at a $2.6 billion valuation for 100% of NEXT Insurance, gives ERGO/Munich Re a direct foothold in the U.S. small-business P&C insurance market and combines NEXT's tech-driven underwriting platform with ERGO's insurance expertise.
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Warburg Pincus Makes Majority Investment in uvex group
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Warburg Pincus will acquire a majority interest in the uvex group, the family-owned provider of personal protective and sports protective equipment. The Winter and Grau owner families will retain a significant minority stake and remain involved in the company’s future growth.
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Permira Acquires Majority Stake in Reorg from Warburg Pincus
August 1, 2022
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Funds advised by Permira agreed to acquire the majority shareholding in Reorg from Warburg Pincus, with Reorg management retaining a significant ownership stake. The investment will support product innovation and accelerated growth for Reorg, a provider of data, analytics and intelligence for the global credit markets; financial terms were not disclosed and the deal was expected to close in Q3 2022.
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Warburg Pincus Invests in Merger of Tilney and Smith & Williamson
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Warburg Pincus completed its investment to back the merger of Tilney and Smith & Williamson, creating the combined group Tilney Smith & Williamson. The merged business becomes a leading UK integrated wealth management and professional services group with over £47 billion AUM and circa £530 million pro forma revenue while retaining the Tilney, Smith & Williamson and Bestinvest client-facing brands.
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Warburg Pincus Invests $400M in WEX Inc.
June 29, 2020
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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.
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