Silver Lake Acquires Minority Stake in TeamSystem for €600 Million
Private equity firm Silver Lake has agreed to acquire a minority stake in Italian cloud software maker TeamSystem from Hellman & Friedman (H&F). The investment is valued at €600 million ($660.48 million), according to a statement by TeamSystem. After the transaction closes, H&F will retain the majority shareholding in the company. TeamSystem, which specializes in providing accounting, payroll, and business management software for small and medium-sized enterprises, was founded in 1979. The deal, facilitated by financial advisor Evercore, is expected to be finalized by the end of the year. H&F had acquired TeamSystem in 2016 and later transferred it to another fund in 2021. In the 2021 transaction, TeamSystem’s management reinvested in the company, while private-equity firm Hg held a minority stake.