In 2002, Warburg Pincus invested in WNS, a leading, global business process outsourcing (BPO) provider. The company was founded in 2002 when Warburg Pincus formed WNS in partnership with British Airways as a carve-out of British Airways’ captive process and back-office activities. During the firm’s hold period, WNS grew annual revenues from less than $20 million at the time of the carve-out to more than $450 million in 2013. WNS’ substantial growth was supported by management’s proactive agenda of global expansion, rapid workforce growth, and selective tuck-in acquisitions. Following Warburg Pincus’ investment in WNS, the company acquired Town and Country Assistance, GreenSnow, and Trinity Partners. In 2006, WNS became the first BPO provider to list on the New York Stock Exchange. Warburg Pincus exited WNS in 2013.
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