M&A Deal Summary

Alpine Investors, Athyrium Capital Management and Bregal Sagemount Acquire TEAM Services Group

On April 20, 2015, private equity firm Alpine Investors, asset manager Athyrium Capital Management and growth capital firm Bregal Sagemount acquired consumer services company TEAM Services Group

Acquisition Highlights
  • This is Alpine Investors’ 1st, Athyrium Capital Management’s 1st and Bregal Sagemount’s 1st transaction in the Consumer Services sector.
  • This is Alpine Investors’ 20th, Athyrium Capital Management’s 10th and Bregal Sagemount’s 16th transaction in the United States.
  • This is Alpine Investors’ 5th, Athyrium Capital Management’s 4th and Bregal Sagemount’s 5th transaction in California.

M&A Deal Summary

Date 2015-04-20
Target TEAM Services Group
Sector Consumer Services
Buyer(s) Alpine Investors
Athyrium Capital Management
Bregal Sagemount
Deal Type Consolidation

Target

TEAM Services Group

San Diego, California, United States
TEAM Services Group provides household employment and home care solutions through its family of companies across the United States. TEAM believes in the value of self-direction – allowing individuals and families to work with who they want in their homes – and therefore aim to facilitate choice and independence, delivered with the highest standards of quality and security. TEAM Services Group is based in San Diego, California.

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Buyer(S) 3

Buyer

Alpine Investors

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 17.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Alpine Investors is a private investment firm that principally targets small to mid-sized, software and service company acquisitions in the US, Canada, Europe, and Australia. Alpine looks for businesses with cash-flow of $1 to $50 million and will consider both control and non-control positions. Alpine prefers businesses with recurring revenues, identifiable growth opportunities, sustainable margins, and significant barriers to entry. Alpine Investors was established in 2001 and is based in San Francisco, California.


DEAL STATS #
Overall 20 of 45
Sector (Consumer Services) 1 of 1
Type (Consolidation) 1 of 9
State (California) 5 of 9
Country (United States) 20 of 45
Year (2015) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-09 WebEquity Solutions

Omaha, Nebraska, United States

WebEquity Solutions LLC is a provider of on-demand lending software solutions.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-22 MidAmerica Administrative & Retirement Solutions

Lakeland, Florida, United States

MidAmerica Administrative & Retirement Solutions provides innovative tax-advantaged group retirement and health care reimbursement programs to over 2,500 school district and other governmental employers. The Company provides full-service administrative services for close to a million employees with well over $1 billion in assets under direct management. MidAmerica was formed in 1995 and is based in Lakeland, Florida.

Buy -
Buyer

Athyrium Capital Management

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 2008
PE ASSETS 3.7B USD
Size Large
Type Sector Focused
DESCRIPTION

Athyrium Capital Management is a large asset manager focused on the healthcare sector. Athyrium invests in a wide range of financial instruments including royalties, structured credit, and equities as well as select special situations. Athyrium Capital was established in 2008 and is headquartered in New York City.


DEAL STATS #
Overall 12 of 44
Sector (Consumer Services) 1 of 3
Type (Consolidation) 1 of 1
State (California) 4 of 8
Country (United States) 10 of 39
Year (2015) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-16 Ikaria

Clinton, New Jersey, United States

Ikaria is a critical care therapeutics company. Ikaria is based in Clinton, New Jersey.

Sell $2.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-23 Alvogen

Morristown, New Jersey, United States

Alvogen is a multinational pharmaceuticals company focused on developing, manufacturing and distributing generic, brand, over-the-counter brands (OTC) and biosimilar products. With more than 200 pharmaceutical projects in development and registration, the group’s product portfolio consists of a broad range of leading molecules for the treatment of conditions in the fields of oncology, cardiology, respiratory, neurology, and gastroenterology. Alvogen has commercial operations in over 30 countries across North America, Central and Eastern Europe, and the Asia Pacific. Alvogen was founded in 2009 and is based in Morristown, New Jersey.

Buy $2.0B
Buyer

Bregal Sagemount

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2012
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Bregal Sagemount is a growth-focused private capital firm. The Firm provides flexible capital and strategic assistance to market-leading companies in high-growth sectors across a wide variety of transaction situations. Bregal Sagemount invests $8 to $150 million per transaction in a variety of sectors including software, digital infrastructure, healthcare IT, healthcare services, business and consumer services, financial technology, and specialty finance. Bregal Sagemount was formed in 2012 and is headquartered in New York City.


DEAL STATS #
Overall 17 of 64
Sector (Consumer Services) 1 of 1
Type (Consolidation) 1 of 1
State (California) 5 of 14
Country (United States) 16 of 60
Year (2015) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-31 YapStone

Walnut Creek, California, United States

YapStone is a provider of web and mobile payment technology solutions, offering a platform that powers electronic payments for international online and mobile marketplaces, including HomeAway and VRBO, as well as for targeted, large vertical markets, including apartment and vacation rentals, HOA communities, self-storage and non-profits. YapStone was founded in 1999 and is based in Walnut Creek, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-21 IRTH Solutions

Columbus, Ohio, United States

IRTH Solutions is a provider of software and services to the underground utility damage prevention industry. Irth's customers include blue-chip utilities, telcos, pipeline operators and municipalities. Irth's software enables its customers to receive underground construction activity notifications from One Call Centers electronically via irth’s software, replacing traditional fax and email delivery methods with electronic screen notifications efficiently and accurately using geographic information systems (GIS) to streamline the customer's ticket management process. IRTH Solutions was founded 9in 1985 and is based in Columbus, Ohio.

Buy -