Silver Lake to buy minority stake in Italian tech firm TeamSystem from H&F

Silver Lake, a technology investment firm, has reached an agreement to acquire a minority stake in TeamSystem, an Italian technology company, from Hellman & Friedman (H&F) for €600 million.

Hellman & Friedman, which is a global private equity firm, will retain its majority ownership of the Italian company.

TeamSystem specializes in providing business software solutions to companies and accountants in Italy and Spain. Leveraging its proprietary cloud platforms, the company caters to 1.8 million customers. In 2022, TeamSystem made a turnover of around €700 million.

This strategic investment by Silver Lake is said to signify a crucial milestone for TeamSystem as it continues to spearhead the digital transformation of businesses and accountants in Italy and Spain.

The company’s software platform encompasses a wide range of solutions, from core business applications to financial technology and artificial intelligence (AI) tools. These offerings are designed to revolutionize business processes, enabling clients to optimize operations, enhance efficiency, and accelerate growth.

Since Hellman & Friedman’s initial investment in TeamSystem back in 2016, the latter is said to have experienced remarkable growth, expanding its customer base from 200,000 to around 1.8 million customers today.

Blake Kleinman — Hellman & Friedman Partner said: “We are thrilled to welcome Silver Lake as an investor in TeamSystem as we set our sights on the next phase of growth for the business. We have been impressed by TeamSystem’s performance since our initial investment in 2016.

“Federico Leproux and his team have done an outstanding job to strengthen TeamSystem’s offering and more than triple the company’s revenues. Our investment in TeamSystem which started over seven years ago is a great example of H&F’s approach to long-term value creation.”

With the support and strategic partnership of Silver Lake, TeamSystem is poised to embark on an exciting new phase of development, leveraging its cutting-edge software solutions to drive digital innovation, streamline business operations, and empower its expanding customer base in Italy and Spain.

Christian Lucas — Silver Lake Co-Head of EMEA said: “We are excited to partner with TeamSystem as it continues to transform the Italian software industry. Management’s strong commitment to technological leadership, customer-centric approach, and drive for best-in-class innovation are qualities we value highly and have invested behind consistently in support of cloud software leaders across Europe, making TeamSystem an ideal fit for Silver Lake.

“We look forward to working closely with Federico and the full team in partnership with Hellman & Friedman to drive further growth and deliver exceptional value to its customers.”