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Private equity funds affiliated with Hellman & Friedman LLC (“H&F”) acquire a controlling interest in TeamSystem Holding SpA (“TeamSystem”), beginning a new chapter of growth for the Italian software company.  Management will continue to invest in the business going forward and HgCapital intends to retain a minority stake.

TeamSystem, founded in 1979, is a leading provider of software applications to professionals and enterprises in Italy across different segments, offering a broad range of business-critical, on-premise and on-cloud solutions to a diversified base of over 200,000 customers.

“This transaction confirms the great value we have built in our business serving our customers with best-in-class solutions, support and distribution. All of us at TeamSystem are excited to partner with Hellman & Friedman given their extensive expertise in software and their commitment to further accelerate growth and continuously evolve our business, investing behind innovative products and world class service. TeamSystem’s management and I are also very appreciative of HgCapital’s and Bain Capital’s support of our growth strategy over the last several years and are thrilled with the proposed continued participation of HgCapital going forward.”

Federico Leproux, CEO

“TeamSystem is an outstanding software franchise, with a long and successful track record of providing market-leading products to thousands of different Italian professionals and enterprises. We are excited to partner with Federico Leproux and his management team in the coming years and are confident that TeamSystem will continue to lead the market in terms of innovation by offering its customers a full suite of cloud-enabled software solutions that will significantly improve the efficiency of their businesses”

, Blake Kleinman, Managing Director at Hellman & Friedman

“Federico and his team have consistently grown TeamSystem to a leadership position in the Italian software market for accountants, lawyers, labour advisors and SMEs. It’s a privilege to partner with this energetic team to deliver the next phase of growth.”

Philip Sternheimer, Director at Hellman & Friedman

“This investment leverages our deep expertise in technology and marks a continuation of our strategy to invest in strong franchises with significant growth opportunities.”

Patrick Healy, Deputy CEO of Hellman & Friedman

HgCapital intends to roll a minority portion of its proceeds into the new transaction. Jean-Baptiste Brian, a Director at HgCapital, said, “We have had a very successful partnership with TeamSystem and are proud of what the Company has achieved since we first entered into that relationship. At the same time, we believe that there are numerous further growth opportunities ahead and would be excited to contribute to the next leg of that journey.”

“Bain Capital initially bought TeamSystem in 2004 from Palamon and sold the company in 2010 to HgCapital, reinvesting at that time. Our investment in TeamSystem has been a close partnership with the management team over the last eleven years, helping the business to significantly become a market leader.”

Ivano Sessa, Managing Director at Bain Capital

Mediobanca SpA acted as financial advisor to Hellman & Friedman on this transaction. Rothschild acted as financial advisor to HgCapital on this transaction.