TH Lee Putnam Ventures and Freeman Spogli, along with current management of N.E.W. Customer Service Companies Inc. (NEW), have acquired a significant equity interest in NEW, an administrator of warranty and extended service contracts for retailers, utilities, manufacturers and financial services firms in the United States, at an enterprise value of approximately $370 million.
NEW, Sterling, VA, creates and administers warranty and extended service programs that cover a wide range of consumer electronics, home office equipment, appliances, sporting goods, lawn and garden equipment, furniture, power tools and jewelry products, according to the company.
Spogli & Co. is a private equity firm with offices in Los Angeles and New York, and is dedicated exclusively to investing and partnering with management in companies in the retailing, direct marketing and distribution industries in the United States.
TH Lee Putnam Ventures is a private equity firm with offices in New York, Boston and London, and is affiliated with Thomas H. Lee Partners, a buyout firm, and Putnam Investments, a global money management firm.
Network
