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Warburg Pincus to Invest $255 Million in BlueGrace Logistics

Private equity firm Warburg Pincus agreed to buy a minority stake in BlueGrace Logistics for $255 million.

The transportation logistics company, founded in 2009, plans to use the funding to hire as many as 700 new employees, expand in the U.S. and pursue acquisitions, according to a statement Tuesday from the Riverview, Florida-based company. It employs about 370 people now.