FOR IMMEDIATE RELEASE
October 7, 2016
Richmond, VA – Capital Business Brokers LLC, a wholly-owned division of Transact Capital Partners, is pleased to announce that TSG Services, Inc., a Richmond, VA-based adult day care center, has been acquired by ncgCARE. Capital Business Brokers served as the exclusive broker and financial advisor to TSG Services in closing the transaction.
TSG Services, Inc. was founded in 2011 and specializes in providing care for persons with intellectual and developmental disabilities through the ID and DD Waiver programs. The Company focuses on non-medical services such as supervision, daily living assistance, social support & activities, transportation, and nutrition. ncgCARE, a regional behavioral healthcare company headquartered in Richmond with approximately 1,000 employees, plans to leverage the combined firms and expand a continuing successful relationship with the Virginia Medicaid Waiver program, while creating new employment opportunities and providing exceptional service for patients.
Barry Krauss is President of Capital Business Brokers and brokered the deal. Krauss had this to say about the transaction: “We assisted Tiffany Gunn, the owner and founder, to achieve her goals of exiting the business while retaining staff and continuing to provide needed services to patients.” Ms. Gunn stated: “I am so grateful and thankful for you and your leadership as well as your staff. The whole sale process was very complex especially with the regulations and re-licensing and your patience and handholding was the only way I survived it. Thank you and your team again for getting me to closing and starting my new life in a comfortable way.”
Capital Business Brokers LLC is a business brokerage company focusing on small privately owned business located in Virginia and surrounding states. Transact Capital Partners is a full-service mergers and acquisitions advisory firm headquartered in Richmond, VA, with offices in Roanoke and Tidewater, VA, Lexington, KY, Orlando, FL, and Central Pennsylvania. Transact focuses on the needs of small privately held companies in the lower middle market with enterprise values under $50 million. With extensive experience in owning, running, or investing in private companies or divisions of public companies, the firm’s principals are able to help many business owners exit their companies or explore other opportunities. Security transactions are offered through Transact Capital Securities, LLC. Member FINRA and SIPC.
To learn more about Transact Capital Partners, please call Steve Zacharias at 804-612-7102 or e-mail at Steve@TransactCapital.com. To learn more about Capital Business Brokers, please visit CapBizBrokers.com.
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Article from Richmond BizSense.
