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SE Capital Partners acquires TLC Companies

SE Capital Partners (SE Capital) has acquired TLC Companies (TLC) under its recent partnership with Berggruen Holdings. 

“The partnership, Berggruen/SE Capital Holdings (BSECP), is extremely flexible on transaction size and structure, focusing largely on lower middle market transactions with enterprise values ranging from USD15 to USD100 million,” says Paul Mulvaney partner at SE Capital. BSECP is looking to deploy at least USD400 million of equity capital across multiple investment platforms with TLC representing the first such investment platform of the partnership.
“We partnered with SE Capital as a result of their long track record of buying, building and growing middle market companies.  We look forward to continue to build out our investment portfolio in partnership with SE Capital and with additional niche market leaders like TLC,” says Koonal Gandhi, CIO of Berggruen Holdings.
TLC, based in Brooklyn Center, MN, is the nation’s largest transportation specific Professional Employer Organization (PEO) in the United States, providing outsourced human resource services, including payroll processing, workers compensation insurance and other employee benefits for the transportation industry.
“We view TLC as an impressive company with a strong management team and a dominant market share in the transportation focused PEO space,” says Jeff Kvam, partner at SE Capital. “TLC serves as a great platform from which to build the marketplace for transportation company clients.”
“Our team is excited to partner with SE Capital to execute on our long-term growth strategy.  As the largest transportation specific PEO, we have an amazing opportunity to become a more valuable partner to our existing transportation clients as well as provide additional services to the truckers themselves,” says Tim Coughlin, TLC’s CEO. “We believe SE Capital’s long track record of executing on aggressive growth strategies alongside their management partners made them the ideal partner for us.  We look forward to working with them to further invest in sales, marketing, and IT infrastructure so we can better service our clients.”

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