Private equity firm TriSpan has successfully closed a continuation vehicle for Prestige PEO Holdings, securing additional capital to support the company's growth strategy. The transaction, led by growth equity firm Lead Edge Capital, indicates strong investor confidence in Prestige's business model and market potential.
Since TriSpan's original investment in 2020, Prestige has demonstrated significant growth by expanding its geographic footprint and completing five strategic acquisitions. The professional employer organization (PEO) provides comprehensive human resource services to small and mid-size businesses across the United States.
The continuation vehicle allows Prestige to access follow-on capital, positioning the company to capitalize on emerging market opportunities. CEO Andy Lubash emphasized the strategic importance of the partnership, highlighting the potential to gain market share and unlock further growth potential.
Key investors, including TriSpan and Lead Edge Capital, see substantial value in Prestige's unique broker-driven model and high-touch customer approach. The transaction underscores the company's impressive track record of efficient growth and client satisfaction.
For investors and businesses in the HR services sector, this deal signals the continued strength and attractiveness of professional employer organizations, particularly those with innovative service delivery models and strong leadership teams.
