TriSpan buys majority stake in professional employer organization Prestige PEO

TriSpan LLP purchased a majority interest in Prestige PEO Holdings LLC, the parent company of Prestige Employee Administrators Inc.

The transaction was made through the lower-middle-market private equity firm's TriSpan Opportunities LP and TriSpan Opportunities II LP vehicles.

The Melville, N.Y.-based professional employer organization will use the fresh capital to expand into new markets, create new broker partnerships, enhance its service models, invest in core technology infrastructure and make acquisitions.