General Atlantic has finalized the acquisition of Team Services Holding Inc. for approximately $3 billion, including the company's debt, according to a source familiar with the transaction. The private equity firm and investment company, led by Stephen Schwarzman, closed the deal last week, marking a significant expansion into the home-care sector. Team Services, a provider of home-based healthcare and support services, was previously owned by Alpine Investors. The agreement was initially signed earlier in the year, though no public announcement was made at that time.

The valuation of Team Services stands at roughly 10 times its earnings before interest, taxes, depreciation, and amortization (EBITDA), a premium reflecting the company's established position in the home-care market. This acquisition underscores General Atlantic's strategic pivot towards healthcare services, following its previous investments in companies like Humana and Kindred Healthcare. The deal provides General Atlantic with a foothold in a sector experiencing steady demand due to aging populations and government healthcare policies.

For Team Services shareholders, the $3 billion price tag represents a substantial return, while the company gains access to General Atlantic's resources and expertise. Industry analysts note this move could signal increased consolidation within the home-care industry as larger players seek to scale operations and improve service offerings. The transaction is expected to close without regulatory hurdles, given Team Services operates primarily within the United States.