Alterna Equity Partners, a South Florida-based lower middle-market private equity firm, completed the 100% sale of one of its portfolio companies, Alterna Capital Solutions, to Paychex. The sale represents a successful exit for Alterna Equity Partners. The transaction closed on July 31 and terms of the transaction were not disclosed.

Alterna Capital Solutions, headquartered in Winter Park, FL, 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 complementary financing solutions. Alterna Capital Solutions has a team of senior-level sourcing professionals across several offices across the U.S.

Alterna Equity Partners founded Alterna Capital Solutions in 2018 to create an accounts receivable financing company. Alterna Capital Solutions achieved organic growth during Alterna Equity Partners’ hold period and Alterna Equity Partners made a follow-on investment in March 2020 to support that growth.

Greenberg Traurig acted as legal counsel to Alterna Capital Solutions and Alterna Equity Partners on the sale to Paychex and Hovde Group served as exclusive financial adviser to Alterna Capital Solutions on the transaction.