LJC Investments V, LLC, an investment vehicle controlled by Littlejohn Capital, LLC, announced the acquisition of Alto Healthcare Staffing (“Alto”), a diversified healthcare staffing firm.
Alto was established in 2003 in line with the personal values and mission of Founder and RN Leslie Kahn. Alto’s three key business lines include providing clinical temporary staffing primarily for nursing homes and long-term care facilities on a per diem or short-term contract basis; travel nurses primarily to hospitals; and medical assistants to doctors’ offices. Alto is headquartered in Dayton, OH.
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Leslie Kahn, President of Alto, said, “Littlejohn took the time to really get to know our business and our management team, and we were greatly impressed with their relevant experience in the staffing sector. With their partnership, we believe we can grow while remaining true to our mission. Littlejohn will provide valuable resources to help us accelerate our growth and build on our relationships with healthcare facilities, hospitals and doctors. Our goal is to provide industry leading services to more customers and provide the right healthcare professionals to patients wherever they are needed most.”
Angus C. Littlejohn III, President of Littlejohn Capital, said: “Over the past several months, we have gotten to know Leslie and her team and were very impressed by the company she has built and the differentiated approach Alto’s talented healthcare professionals provide to long-standing clients. The healthcare staffing industry is experiencing dynamic growth, and Alto’s services have become a more viable and easily accessible option for healthcare facilities across the country. We look forward to working with Leslie to help achieve her vision of expanding Alto’s compassionate care and leveraging the experience from our successful investment in Hospitality Staffing Solutions as we further diversify the business geographically.”
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Staffing industry veteran Timothy McPherson, who served as CEO of former Littlejohn Capital portfolio company Hospitality Staffing Solutions, will join the Alto Board of Managers, in addition to Mr. Littlejohn III and Littlejohn Capital Chairman, Angus Littlejohn, Jr.
UHY Corporate Finance served as financial adviser to Alto and Morrison Cohen LLP provided legal counsel to Littlejohn Capital on the transaction.
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