Alpine Investors-backed Team Services Group has raised $100 million of additional equity capital as part of a $362 million single asset secondary market transaction. Team is a portfolio company of Alpine Investors V and V SBIC LP.
The fundraising was led by HarbourVest Partners, Neuberger Berman, Pantheon, and Hamilton Lane, who now join as investors. Team provides employment services and home care services for seniors and people with disabilities. “This continuation fund allows Alpine and Team to continue supporting its amazing partnerships across the nation,” says Alpine founder Graham Weaver. “Team continues to make an enduring impact in serving communities across the nation and we are thrilled to play a supporting role.”
Lazard is acting as financial advisor for the equity transaction and Kirkland & Ellis is serving as legal counsel. Credit Suisse is lead arranger on debt refinancing for Team and Jefferies is secondary arranger. Morrison Foerster is serving as debt counsel.