Harvest Partners LP announced on Thursday, August 15, the sale of data center services provider Service Express Inc. to Warburg Pincus LLC.

The existing management team led by CEO Ron Alvesteffer will continue to lead Service Express.

New York-based Harvest and Grand Rapids, Michigan-based Service Express, which issued a separate press release, did not disclose financial terms of the transaction.

The August 2022 deal stated that Service Express could be an exit candidate.

Warburg Pincus’ investment will support further geographic expansion, market initiatives and strategic acquisitions, the company said.

Service Express specializes in third-party maintenance and post-warranty managed data center services, providing services that help extend the life of mission-critical data center equipment. With offices in the United States and Europe, the company serves a diverse customer base across six continents.

Harvest partnered with Service Express in 2019 and, together with the management team, transformed the company into a global end-to-end data center services provider. Under Harvest’s ownership, Service Express expanded through consistent organic growth and strategic acquisitions and expanded its hybrid cloud service offerings.

Service Express acquired ServIQ in 2023, Sherlock Services Inc. in September 2022, iTech Solutions Group LLC and iInTheCloud LLC in July of the same year, Trident Computer Resources in April of the same year, ICC Group in September 2021, Blue Chip Customer Engineering Ltd. in February 2021, the third-party maintenance division of Zensar Technologies Ltd. in December 2020, and SYMM-Care Services Inc. in February of this year.

Warburg Pincus, based in New York, is a global growth equity investor with extensive experience in trading and technology services.

Reuters reported on Tuesday that Warburg Pincus is exploring options, including a possible sale of cybersecurity company eSentire Inc. The company had invested $100 million in banking software provider Matera Inc. in July and in Varicent US OpCo Corp.

Citigroup Inc. acted as financial advisor and a team from Cleary Gottlieb Steen & Hamilton LLP led by David Leinwand, Nickolas Bogdanovich and Jeremy J. Calsyn provided legal counsel to Warburg Pincus. Managing Director Doug Musicaro and Managing Director King Leung were involved in-house in the deal.

William Blair & Co. LLC and JPMorgan Chase & Co. acted as financial advisors to Harvest and Service Express, with a team from Kirkland & Ellis LLP led by Andrew Arons and Oliver Yee providing advisory services. Harvest partner Stephen Fessler and President of Private Equity Stephen Carlson worked in-house on the deal.