SILVER LAKE invests in TEAMSYSTEM

TeamSystem, a leading digital platform backed by Hellman & Friedman, Silver Lake, and CapitalG, has successfully finalized the acquisition of ACD in France. This strategic move represents the fourth transaction of the group in 2026, marking a significant acceleration of its international expansion strategy. The acquisition of the French target allows the group to capitalize on the progressive implementation of mandatory electronic invoicing in France, a regulatory shift mirroring the Italian transition that fueled the group's domestic growth. The strategic rationale centers on exporting the group's consolidated SaaS model to high-density professional markets where administrative and fiscal processes are undergoing deep structural transformations. By combining the target's localized expertise in payroll and accounting production with the group’s proprietary technological scale and AI capabilities, the partnership aims to consolidate the organization’s role as a European champion for SME digitalization.

Private equity firm Hellman & Friedman (H&F) has entered into an agreement to acquire a controlling equity interest in Italian software provider TeamSystem from an exiting investor group comprising HgCapital, Bain Capital, and ICG. Under the newly restructured corporate framework, the incumbent management team will continue to invest in the business, while historical sponsor HgCapital will roll over a portion of its proceeds to retain a minority stake. The transaction, which facilitates Bain Capital's full exit following an eleven-year investment lifecycle, was executed with Mediobanca advising H&F and Rothschild acting as financial advisor to HgCapital. For Hellman & Friedman, the buyout leverages its deep sector expertise to back CEO Federico Leproux and his management team in driving the next phase of corporate growth. The joint commercial roadmap focuses on reinforcing TeamSystem's leadership position within the Italian market by accelerating the rollout of its cloud-enabled software suite to a highly diversified base of over 200,000 professional and SME clients. For HgCapital, rolling over a minority position provides partial liquidity on a successful investment while maintaining strategic exposure to the platform's robust future growth opportunities.

TeamSystem, a leading Italian management software provider backed by private equity sponsor HgCapital, has executed an agreement to acquire 24OreSoftware, the dedicated software division of publishing conglomerate Gruppo Sole 24 Ore. This corporate carve-out closely follows TeamSystem’s recent acquisition of IBM Italia's ACG division. The transaction was structured and overseen by TeamSystem's management committee, supported by a consortium of advisors including Vitale & Associati acting as global advisor, Gattai, Minoli & Partners providing legal counsel, New Deal Advisors handling financial advisory, and Pirola Pennuto Zei & Associati acting as tax advisors. For the acquirer, led by CEO Federico Leproux, the transaction is a core component of a broader M&A roadmap designed to consolidate the highly fragmented Italian business software market. By integrating 24OreSoftware, TeamSystem unlocks significant operational economies of scale while strategically broadening its existing product suite with specialized vertical modules tailored for construction technicians and tax assistance centers. The acquisition effectively deepens the group's software portfolio and cements its dominant market position as a premier technology provider for domestic corporate clients and professional firms.

European sector-focused private equity firm HgCapital has reached a definitive agreement to acquire a majority controlling stake in Italian software provider TeamSystem SpA. The buyout is being executed on behalf of the sponsor's client base, which includes the listed investment vehicle HgCapital Trust plc. The transaction is officially anticipated to reach completion on September 30, 2010. For the acquirer HgCapital, which has proactively tracked the target's trajectory since 2004, the acquisition extends a proven thematic investment strategy targeting the regulatory-driven SMB software market. TeamSystem marks HgCapital’s fifth capital deployment in this specific European sub-sector, following historical investments in Iris, Addison, Computer Software Group, and Visma. Headquartered in Pesaro and established in 1979, the target operates as Italy’s top provider of daily-use, business-critical applications for accountants and SMBs, boasting a highly diversified base of over 80,000 customers. The post-closing commercial roadmap focuses on leveraging the company's predictable, subscription-heavy business model to drive long-term value creation through sustained organic growth and selective add-on acquisitions.

Private equity firm Bain Capital has completed the buyout of Italian software provider TeamSystem. The transaction was executed through a secondary buyout from exiting private equity sponsor Palamon, establishing Bain Capital's initial controlling ownership stake in the business. For the acquirer Bain Capital, the buyout secures operational control of a highly scalable technology platform, providing the institutional capital required to drive its expansion within the Italian business software market. For the selling sponsor Palamon, the corporate sale represents a full liquidity event and a successful exit from its historical investment in the company.