Assisted Living Concepts Acquired by Global Firm

Menomonee Falls-based Assisted Living Concepts, Inc. on Thursday announced it completed its acquisition by a global private investment firm, TPG. 

ALC stockholders approved the acquisition in May. As a result, ALC stock shares will no longer be listed for trading on the New York Stock Exchange. Shareholders received $12 per share of Class A stock, and $12.90 per share of Class B stock, according to a news release from the company. 

ALC and its subsidiaries operate more than 200 assisted living residences in 19 states and employs over 4,500 people. 

ALC also announced the appointment of its Chief Executive Officer, Jack R. Callison,Jr. Callison has almost 20 years of combined experience in both public and private senior housing and multifamily industries. 

“I am excited to be partnering with TPG and to have the opportunity to lead ALC going forward,” said Mr. Callison. “ALC is one of the country’s leading assisted living providers, and I look forward to working in partnership with our employees across the country to make our organization the most trusted provider of assisted living in America.” 

TPG is a leading global private investment firm founded in 1992 with $56.7 billion of assets. The firm's investments span a variety of industries including real estate, healthcare, financial services, travel and entertainment, technology, energy, industrials, media and communications, retail and consumer.