• Sector: Business Services
  • Geography: Americas
  • Stage: Growth
  • Investment Year: 2007
  • Exit Year: 2015
  • Website Link

Coyote Logistics

In 2007, Warburg Pincus invested in Coyote Logistics (Coyote), a technology-driven, leading provider of truckload brokerage services. Founded in 2006, Coyote utilizes an asset-light model to contract truckload shipments between shipping customers and trucking companies, without directly owning any trucks. As a fast-growing provider of mission-critical brokerage services in a large, highly fragmented industry with favorable secular trends, Coyote was a compelling investment opportunity with an attractive business model. Following the firm’s investment, Warburg Pincus provided Coyote with a line of equity financing to pursue strategic acquisitions, providing significant guidance and oversight in helping management evaluate accretive opportunities. Warburg Pincus backed Coyote’s acquisitions of Integra Logistics and GFS, two Atlanta-based intermodal brokers in 2008, as well as funded the acquisition of Access America, a fast-growing truck broker based in Tennessee. Additionally, Warburg Pincus assisted the company in developing a differentiated sales process by separating new customer acquisition efforts from the truck matching process. Under Warburg Pincus’ ownership, Coyote was included on Inc. Magazine’s list of fastest growing companies and was recognized on Forbes’ Most Promising Companies after achieving over $1 billion of gross revenue. Warburg Pincus exited the investment in 2015.

Website Case Studies Disclaimer

The investments described in the case studies are provided for illustrative purposes only and are not, and do not purport to be, representative of all investments, or all types of investments, previously made by Warburg Pincus, or indicative of the performance of all prior Warburg Pincus investments. The case studies have been selected on the basis of objective criteria that Warburg Pincus believes are representative of the firm’s experience partnering with portfolio company management teams, and of the sectors, stages, strategies and/or geographies in which the firm invests. The information provided in the case studies are not necessarily an indication of future results, and may not be relied up for any purpose. Warburg Pincus’ current or future portfolio companies may differ materially in size, type, performance and other characteristics from the investments presented in the case studies. Further, references in this case study should not be construed as a recommendation or offer to buy or sell any particular security or to make any particular investment.