TriSpan Closes Continuation Vehicle for Prestige PEO Holdings to Support Next Growth Phase

TriSpan LLP, a New York and London based private equity firm, announced the closing of a single-asset continuation vehicle that acquired interests in Prestige PEO Holdings LP. The transaction, led by growth equity firm Lead Edge Capital and supported by existing investors including TriSpan affiliates, will provide follow-on capital to support Prestige through its next phase of growth and value creation. This financial backing enables the company to capitalize on market opportunities and expand its service offerings.

Prestige serves as the parent company of PrestigePEO, a provider of comprehensive, outsourced human resource services to small and mid-size businesses across the United States. Since TriSpan's original investment in 2020, Prestige has demonstrated significant growth through organic expansion utilizing its differentiated broker model while completing five strategic acquisitions and entering new geographic markets. The company's performance and market positioning have attracted continued investor confidence.

Andy Lubash, CEO and Founder of Prestige, emphasized the importance of the ongoing collaboration, stating that the partnership with TriSpan has been core to the company's success and positions them well to continue gaining market share. The transaction structure allows Prestige to maintain operational continuity while accessing additional resources for expansion. Baudoin Lorans, Partner at TriSpan, highlighted Prestige's talented leadership team and its ability to access the broker channel for new client acquisitions as key drivers of strong performance that will continue accelerating growth.

Lead Edge Capital's participation in the transaction, as noted by Partner Tim Bemer, reflects confidence in Prestige's two-decade track record of efficient growth and high client satisfaction. The company's high-touch, customer-centric approach delivers substantial value to clients and results in impressive retention rates. Additional transaction support came from Lazard Frères & Co. LLC serving as financial advisor and Goodwin Procter LLP providing legal counsel to TriSpan, while Atlantic Global Risk LLC served as the R&W insurance broker and Houlihan Lokey Capital Inc. provided a fairness opinion.

The continuation vehicle structure represents a strategic approach to private equity investing that allows existing investors to maintain exposure to promising portfolio companies while bringing in new capital partners. For more information about the companies involved, visit https://www.prestigepeo.com and https://trispanllp.com. This transaction underscores the growing importance of professional employer organizations in supporting small and mid-sized businesses with comprehensive HR solutions during periods of economic transformation and workforce evolution.