Pacific Avenue Capital Partners Completes Acquisition of Care.com from IAC
Pacific Avenue Capital Partners has finalized the acquisition of the family care platform Care.com from IAC Inc.
Los Angeles, CA – Pacific Avenue Capital Partners announced the completion of its acquisition of Care.com from IAC Inc. The transaction establishes Care.com as a standalone company with a strategy to expand its enterprise solutions and strengthen its consumer marketplace.
Care.com, which provides a network of background-checked child and senior caregivers, as well as other domestic support services, was previously owned by IAC. The company also noted its partnerships with over 700 employers, including many Fortune 100 companies, offering benefits designed to help employees manage caregiving responsibilities.
Under Pacific Avenue's ownership, Care.com aims to accelerate product innovation, scale its employer partnerships, and enhance the platform experience for families and caregivers. The private equity firm specializes in corporate carve-outs and complex transactions in the middle market.
Brad Wilson, CEO of Care.com, expressed enthusiasm for the new chapter, focusing on supporting families and caregivers while expanding solutions for employers. Pacific Avenue Capital Partners manages approximately $3.8 billion in assets under management.