LogicSource Raises $180M in Funding 

LogicSource and FTV Capital

LogicSource, a Norwalk, Conn.-based provider of procurement services and technology solutions, raised $180m in funding.

FTV Capital made the investment. Brad Bernstein, managing partner at FTV Capital, and Alex Malvone, principal, will join LogicSource’s board of directors.

The company intends to use the funds to enhance its services, technology and data offerings, enter new verticals and further invest in client-centric growth initiatives.

Led by David Pennino, CEO, LogicSource is a leader in procurement services and technology, purpose-built to drive profit improvement, mitigate risk, and ensure supply chain continuity through improved buying. The company focuses exclusively on the sourcing and procurement of indirect goods and services, including complex categories like marketing, packaging, corporate services, facilities, information technology, distribution and logistics.

The company serves a a client roster of blue-chip companies such as Big Lots!, Deluxe, Lululemon and Rite Aid, among others.