Alpine Investors has completed a continuation vehicle transaction involving TEAM Services Group
San Francisco, California-based Alpine is a people-driven private equity firm that is committed to building enduring companies by working with, learning from and developing exceptional people. Alpine specializes in investments in software and services companies. For more information, please visit www.alpineinvestors.com.
Founded in San Diego, California, TEAM is a leading provider of employment services and home care services for seniors and people with disabilities. The company believes in the value of self-direction, allowing individuals and families to choose the people working with them in their homes and aims to facilitate choice and independence delivered with the highest standards of quality and security. Alpine formed the TEAM platform in 2015 through its partnership with TEAM RMS led by Chief Executive Officer, Josh Greenberg who was brought in through Alpine’s PeopleFirst executive program. TEAM has become a nationwide platform, providing services across its two divisions: TEAM Risk Management Services, which focuses on serving clients of trust companies, and TEAM Public Choices, which focuses on serving beneficiaries of state-sponsored disability and aging programs.
This continuation transaction, led by a collection of new and existing investors, will allow for Alpine’s continued investment in TEAM and will fuel its next phase of growth behind the $100 million of additional equity capital as part of a broader $362 million single asset secondary market transaction to fund future growth initiatives. “TEAM continues to make an enduring impact in serving communities across the nation and we are thrilled to play a supporting role. In many ways, TEAM is the embodiment of our PeopleFirst philosophy, the philosophy that by putting people first you can achieve enduring business results,” commented Graham Weaver, Founder of Alpine.
Lincoln provided a fairness opinion to Alpine, working closely with its team and the management of TEAM throughout the opinion process. Alpine recently closed a single asset secondary market transaction with Ingenio in August 2021, for which Lincoln also provided a fairness opinion.
Lincoln played a key role in helping our team navigate the LPAC and fairness opinion processes for Alpine’s first continuation transaction because of their depth of knowledge and experience in healthcare services and with these transactions.
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