Private equity firm Littlejohn & Co. is reportedly buying Austin-based e-commerce company Newgistics Inc.
Newgistics is currently in the market with a USD105 million loan backing Littlejohn's buyout, Thomson Reuters Loan Pricing Corp. said. French bank BNP Paribas launched the loan earlier this month.
According to a report by peHUB, Newgistics provides e-commerce services including web design, implementation, integration, hosting and support for retailers.
Based on a filing with the Federal Trade Commission (FTC) on November 21, the investment in Newgistics will come from Littlejohn's fourth fund. The investment firm's Fund IV raised USD1.3 billion in 2010, the report said.
peHUB said that Littlejohn is currently in talks with other investors about raising its fifth fund with a target of USD1.5 billion. The private equity firm expects to launch its Fund V before the year ends or early next year.
Littlejohn invests in middle-market companies undergoing changes in capital structure, strategy, operations or growth. It has invested over USD1.7 billion in 27 platform portfolio companies and many add-on acqusitions, its website said.
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