ALTERNA EQUITY PARTNERS ANNOUNCES THE SALE OF ALTERNA CAPITAL SOLUTIONS TO PAYCHEX

Fort Lauderdale – September 29, 2023 – Alterna Equity Partners (“AEP”), a South Florida-based lower middle market private equity firm, today announced the 100% sale of one of its portfolio companies, Alterna Capital Solutions, LLC (“ACS”) to Paychex, Inc. (“Paychex”). The sale of ACS represents a successful exit for AEP. The transaction closed effective July 31, 2023 and terms of the transaction were not disclosed.

ACS, headquartered in Winter Park, Florida, is a specialty finance company offering a range of financing solutions to small business clients including invoice financing, asset-based lines of credit, term loans and other complimentary financing solutions. ACS has a team of senior-level sourcing professionals across several offices nationwide.

AEP founded ACS in 2018 by capitalizing senior management to create a best-in-class accounts receivable financing company. ACS achieved significant organic growth during AEP’s hold period and AEP made a follow-on investment in March 2020 to support that growth.

Greenberg Traurig acted as legal counsel to ACS and AEP on the sale to Paychex and Hovde Group served as exclusive financial adviser to ACS on the transaction.

About Alterna Capital Solutions

Founded in 2018, Alterna Capital Solutions is a specialty finance company offering a range of financing solutions to small and medium-sized business clients including invoice financing, asset-based lines of credit, term loans and other complimentary financing solutions. ACS is led by a highly experienced management team of industry veterans and leverages a national, direct sales force to build and maintain the Company’s wide referral network which includes bankers, CPAs, turnaround professionals, brokers, and attorneys. For additional information, please visit www.alternacs.com.
 

About Alterna Equity Partners

Alterna Equity Partners is a private equity firm based in South Florida focused on making control and non-control investments in lower middle market U.S. companies. We seek stable, established companies and back strong management teams that are poised for growth. Our differentiated strategy is centered on the long-standing focus on founder- or family-owned mid-size businesses and a deep understanding and appreciation of the unique challenges and opportunities such businesses present. To learn more, please visit www.alternaequitypartners.com.