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Pitney-Bowes to buy Newgistics for $475m from Littlejohn & Co.

Staff Writer | September 7, 2017
Littlejohn & Co. announced it has signed a definitive agreement to sell Newgistics, a provider of technology-enabled parcel logistics to the e-commerce and direct-to-consumer retail industry, to Pitney Bowes for approximately $475 million.
Acquisition   Substantial investments
The transaction is expected to close by late third or early fourth quarter subject to customary closing conditions.

Since being acquired by Littlejohn in 2013, Newgistics has undergone a period of tremendous growth, which has included:

- Greater than 50% increases in both revenue and EBITDA;

- Substantial investments in software development, new product launches, automation and overall expansion of the network;

- Developing international capabilities, now the Company’s fastest growing segment of business;

- Successfully implementing management succession plan and making key hires in marketing and fulfillment; and

- Fully integrating acquired fulfillment and system integration businesses into the Company’s core parcel logistics service offerings.