TEAM Services, which is backed by Alpine Investors, has acquired AmeriBest Home Care, a portfolio company of Boyne Capital. No financial terms were disclosed. Lincoln International was financial adviser to AmeriBest on the transaction. Headquartered in Philadelphia, AmeriBest is a provider of home and community-based services for clients participating in the Medicaid and government-sponsored health plans in Pennsylvania.
CHICAGO, Oct. 11, 2019 /PRNewswire/ — Lincoln International is pleased to announce that AmeriBest Home Care, a portfolio company of Boyne Capital, has been sold to TEAM Services Group, a portfolio company of Alpine Investors
The transaction represents another success for Lincoln’s healthcare services team, who collectively have advised on nearly 75 home and community-based healthcare deals over the past 3 decades. Lincoln acted as the exclusive financial advisor to AmeriBest, working closely with its management team and shareholders throughout the sale process.
Headquartered in Philadelphia, PA, AmeriBest is a top-5 provider of home and community-based services for clients participating in the Medicaid and government-sponsored health plans in Pennsylvania. The company enables its patients with chronic health conditions to age comfortably in their homes with a care plan that is facilitated by local caregivers and certain qualified family members. Using a technology-forward approach to care management, AmeriBest deploys a large base of caregivers to many of the underserved communities in the Philadelphia metro market. For more information, visit www.ameribesthomecare.com.
Omar Khanataev, CEO at AmeriBest, expressed the company’s excitement to partner with TEAM, stating, “Lincoln’s senior-led team worked hand-in-hand with us from start to finish. They took the time to really understand AmeriBest’s business and what makes the company unique, expertly telling the company’s story throughout the process, and generating incredible enthusiasm from the marketplace. We are thrilled to partner with TEAM as we embark on the next phase of our growth and are grateful to Boyne for their tremendous support.”
Derek McDowell, Managing Partner at Boyne Capital, said, “Lincoln served as a trusted advisor to us and the AmeriBest team throughout the entire process. We are thrilled with the outcome of this transaction and look forward to witnessing the company’s continued success with TEAM as their new partner.”
Barry Freeman, Managing Director and Co-head of Lincoln’s U.S. Healthcare Group, added, “We are delighted that the AmeriBest organization has partnered with TEAM and Alpine. Together they will bring tremendous value to the communities and stakeholders in Pennsylvania that AmeriBest serves. We are grateful to Boyne Capital for putting their trust in Lincoln to represent them on this exit based on our unique insights into home and community-based care built over decades of deal making in the space.”
About TEAM Public Choices
TEAM Public Choices, a division of TEAM Services Group, is a leading facilitator of supports for the elderly and people with disabilities, with an emphasis on empowering self-direction and consumer choice. TPC understands that programs that allow individuals to receive care in settings of their own choosing result in lower costs, better health outcomes, and an improved quality of life. TPC currently operates in 23 states. For more information, visit www.teampublicchoices.com.
About Alpine Investors
Alpine Investors is a private equity firm committed to building enduring companies by working with, learning from, and developing exceptional people. Alpine specializes in middle-market companies in the software and services industries. Its PeopleFirst strategy includes a CEO-in-Residence program where Alpine partners with CEOs first and places them into companies as part of the transaction. This provides a distinct solution for situations where additional or new management is desired post-transaction. For more information, visit www.alpineinvestors.com.
About Lincoln International
We are trusted investment banking advisors to business owners and senior executives of leading private equity firms and public and privately held companies around the world. Our advisory services include mergers and acquisitions and capital markets advisory for the mid-market. We also provide valuations and fairness opinions and joint ventures advisory services. As one tightly integrated team of more than 500 professionals across 15 countries, we offer an unobstructed perspective, backed by superb execution and a deep commitment to client success. With extensive industry knowledge and relationships, timely market intelligence and strategic insights, we forge deep, productive client relationships that endure for decades. Connect with us to learn more at www.lincolninternational.com.